Business
PDS Biotechnology Corp liquidity funding program
PDS Biotechnology Corp liquidity funding program.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \nRNS Number : 3428H NetScientific PLC 31 July 2019 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014\nNetScientific plc\n(\"NetScientific\" or the \"Company\")\nPDS Biotechnology Corporation liquidity funding program\nNetScientific plc (AIM:NSCI), the transatlantic healthcare IP commercialisation group, announces that its portfolio company PDS Biotechnology Corporation (\"PDS\") (Nasdaq:PDSB) has announced a liquidity funding program with Aspire Capital Fund, LLC (\"Aspire\"), an Illinois limited liability company, which has committed to purchase up to an aggregate of $20.0 million of shares of PDS common stock over the 30-month term of the Purchase Agreement dated 29 July 2019.\n The liquidity funding program broadly provides that, on any trading day on which the price per share of PDS common stock exceeds US$0.50, selected by PDS at it sole discretion, that PDS can present Aspire with a purchase notice directing Aspire to purchase up to 100,000 shares of PDS' common stock per business day (i) up to $20.0 million of the PDS' common stock in aggregate and (ii) provided that Aspire's aggregate interest in PDS does not exceed 19.99% of PDS' issued common stock.\nSuch purchases shall be carried out at a per share price equal to the lesser of the lowest sale price of the PDS' common stock on the purchase date; or the arithmetic average of the three lowest closing sale prices for PDS' common stock during the ten consecutive trading days ending on the trading day immediately preceding the purchase date.\nAny proceeds PDS receives are expected to be used for working capital and general corporate purposes.\nNetScientific holds 8.15% of PDS on a fully diluted basis.\nThe full details of the program can be found here: http://investors.pdsbiotech.com/financial-information/sec-filings\n \nFor more information, please contact:\n \n\n\n\n NetScientific\n Ian Postlethwaite, CEO / CFO\n\n\nTel: +44 (0)20 3514 1800\n\n\n\n\nWHIreland (NOMAD, Financial Adviser and Broker)\nChris Fielding / Jessica Cave\n\n\nTel: +44 (0)20 7220 1666\n\n\n\n\nMO PR ADVISORY (Press Contact)\nMo Noonan\n\n\nTel: +44 (0)78 7644 4977\n\n\n\n \n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Fina...