Business
Result of RO by RenalytixAI & Fundraising Update
Result of RO by RenalytixAI & Fundraising Update.
About this update from Ekf Diagnostics Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9465F EKF Diagnostics Holdings PLC 31 October 2018 \n\nEKF Diagnostics Holdings plc\n(\"EKF\" or the \"Company\") \n \nResult of Restricted Offer by RenalytixAI and Fundraising Update\n \nThe Company is pleased to announce the results of the restricted offer made to its shareholders by Renalytix AI plc (\"RenalytixAI\"), which enabled qualifying EKF shareholders who returned a valid application form to subscribe RenalytixAI ordinary shares of £0.0025 each (\"RENX Shares\") at the issue price, being £1.21 (the \"Restricted Offer\"). \n \nRenalytixAI received valid applications from qualifying EKF shareholders in respect of 1,223,952 RENX Shares, representing gross proceeds of approximately £1.48 million. \n \nThe allotment and issue of RENX Shares in connection with the Restricted Offer remains conditional upon, among other things, the entire issued share capital of RenalytixAI being admitted to trading on AIM (\"Admission\"). A revised Schedule 1 announcement will be submitted to AIM for release as soon as practicably possible. \n \nTotal gross proceeds raised by RenalytixAI, pursuant to the overall fundraising and conditional upon Admission, among other things, is approximately £22.25 million with the balance of funds being raised from the Placing and US Subscription.\n \nAs announced previously, the Company is participating in the fundraising; it has conditionally agreed to subscribe for RENX Shares in the Placing for an investment of approximately £3.12 million and is therefore expected to hold approximately 4.79% of the issued share capital of RenalytixAI on Admission.\n \nFull details of the Fundraising will be available in due course in the RenalytixAI admission document which will be made available in conjunction with Admission at www.renalytixai.com. \n \nCapitalised terms in this announcement that are not defined carry the same definitions as in prior announcements in relation the fundraising. \n \n \nEnquiries:\n \n\n\n\nEKF Diagnostics Holdings plc \n\n\n\n\n\n\n\nChristopher Mills, Non-Executive Chairman\n\n\nTel: 029 2071 0570\n\n\n\n\nJulian Baines, CEO\nRichard Evans, FD & COO\n \n\n\n\n\n\n\n\nN+1 Singer (Nominated Adviser & Broker)\n\n\nTel: 020 7496 3000\n\n\n\n\nAubrey Powell / Laure...