Business
Share Subscription, Director's Dealing and Update
Share Subscription, Director's Dealing and Update.
About this update from Genflow Biosciences Plc
[{"type":"text","content":"\n\n9 May 2025\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nGenflow Biosciences plc\n(\"Genflow\" or the \"Company\")\nGenflow Secures £500,000 via a Subscription of Shares,\nDirector's Dealing and Clinical Progress of Canine Longevity Trial\n \nIntroduction\nGenflow Biosciences Plc (LSE:GENF) (OTCQB:GENFF) (\"Genflow\" or \"the Company\"), is pleased to announce that it has raised gross proceeds of £500,000 (before expenses) via an allotment to Eric Leire of 62,500,000 new ordinary shares of £0.0003 each (\"New Ordinary Shares\") at an issue price of 0.8 pence (being the bid price as at close of business on 8 May 2025) (the \"Issue Price\").\nThe net proceeds of this fundraise will be used to advance a proof-of-concept trial evaluating the safety and efficacy of our therapeutic candidate in aged dogs, potentially being also a key translational model for age-related conditions in humans.\nIssuance of the New Ordinary Shares \nThe Company is currently unable to issue and admit the New Ordinary Shares without either the publication of a prospectus approved by the Financial Conduct Authority (\"FCA\") or relying upon an exemption to the requirement to issue a prospectus.\nConsequentially, this fundraise involves a subscription by Eric Leire, CEO and director of the Company, for the New Ordinary Shares at the Issue Price pursuant to the employee offer exemption under Article 1(4)(i) and 1(5) (h) of the UK Prospectus Regulation.\nFollowing allotment of the New Ordinary Shares, Eric Leire has agreed to direct their issue to an institution, who will immediately sell these New Ordinary Shares at the same Issue Price to a purchaser identified by it (the \"Purchaser\").\nWarrants\nConcurrent with the purchase of the New Ordinary Shares, the Purchaser will receive warrants from the Company on a one-for-one basis. These warrants will be exercisable for a period...