Business
$30.0 million financing package
$30.0 million financing package.
About this update from Renalytix Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7325G\n Renalytix PLC\n 31 March 2022\n \n \n \n \n NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, \n CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR IN OR INTO ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.\n \n \n \n \n \n THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR \n \n \n \n \n CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH \n \n \n \n \n JURISDICTION\n . NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY SUCH JURISDICTION.\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (596/2014/EU) AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED (\"MAR\").\n \n \n \n \n \n Renalytix plc\n \n \n (\"Renalytix\" or the \"Company\")\n \n \n \n \n \n Renalytix announces a $30.0 million financing package\n \n \n \n \n \n \n NEW YORK and SALT LAKE CITY, March \n \n \n 31\n \n \n , 2022 - \n \n \n \n Renalytix Plc\n \n \n \n (NASDAQ: RNLX) (LSE: RENX)\n \n announces pricing of a $30.0 million financing package (the \"Fundraise\"). \n \n \n \n \n \n Highlights \n \n \n · \n Financing package comprising:\n \n \n o \n an $8.8 million equity subscription at $7.25 per American Depositary Share (\"ADS\") /$3.625 per Ordinary Share (c.276 pence)\n \n \n o \n a $21.2 million aggregate principal amount of convertible bonds with an issue price of 85 per cent of the principal amount (resulting in net cash proceeds of $18.02m), 5.5% coupon (payable in cash or shares at the Company's option) and a 5 year term\n \n \n · \n The Fundraise will generate gross cash proceeds of $26.8 million, the net proceeds of which will be used for general working capital purposes and to support expected company growth\n \n \n · \n The convertible bo...