Business
Warrant Extension, Debt Conversion & Equity Issue
Warrant Extension, Debt Conversion & Equity Issue.
About this update from Immupharma Plc
[{"type":"text","content":"\n\n \n\n \n1 April 2025\n \nIncanthera plc\n(\"Incanthera\" or the \"Company\")\n \nExtension of Warrants\nDebt Conversion and Issue of Equity\n \nIncanthera plc (AQSE: INC), the Company focused on innovative technologies in dermatology and oncology, announces that it has agreed with ImmuPharma plc (\"ImmuPharma\") to amend the terms of the warrants held by ImmuPharma that were issued on 26 February 2020 (\"Warrants\"). Additionally, the Company announces that is has agreed to settle existing liabilities owed to the University of Bradford (\"UOB\"), a founding shareholder of the Company, and two other creditors, representing in aggregate approximately £380,000, via the issue of 4,470,590 new ordinary shares of 2 pence each at the issue price of approximately 8.5 pence per share.\n \nImmuPharma Warrant Extension\nThe Company entered into a warrant instrument (\"Warrant Instrument\") with the Company on 26 February 2020 whereby ImmuPharma was issued warrants to subscribe in cash at 9.5p per share (\"Subscription Price\") for 7,272,740 ordinary shares (\"Warrant Shares\"). Further to the extension of the Warrants announced on 9 September 2024, the Company and ImmuPharma have agreed to further extend the exercise period of the Warrants to 30 September 2025.\n \nIn consideration for amending the terms of the Warrants, ImmuPharma shall pay the Company a profit share (\"Profit Share\") upon exercise of the Warrants, equal to 30% of the difference between the Subsc...