Business
Over allotment option exercise
Over allotment option exercise.
About this update from Renalytix Plc
[{"type":"text","content":"\n \n \n RNS Number : 0885U\n Renalytix AI PLC\n 27 July 2020\n \n \n \n \n \n \n \n \n \n \n Not for release, publication or distribution, in whole or in part, in or into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction\n \n \n \n \n \n Renalytix AI plc\n \n \n \n \n \n Over allotment option exercise raises an additional US$10.9m\n \n \n \n \n \n Renalytix AI plc \n (LSE\n : RENX) (NASDAQ: RNLX) (\"RenalytixAI\" or the \"Company\"), an \n artificial intelligence\n -enabled\n \n \n in vitro\n \n \n diagnostics \n company, focused on optimizing clinical management of \n kidney disease to drive improved patient outcomes and lower healthcare costs\n , \n announces that the underwriters of its global offering of new ordinary shares, comprising American Depositary Shares (\"ADSs\") and ordinary shares (the \"Global Offering\"), have exercised, in part, their over-allotment option.\n \n \n \n \n \n The underwriters have elected to purchase an additional 806,750 ADSs at the Global Offering price of US$13.50 per ADS, raising approximately an additional US$10.9 million in gross proceeds for the Company and bringing the total gross proceeds of the Global Offering to approximately US$85.1 million (equivalent to approximately £67.8 million at the exchange rate used in the Global Offering prospectus). Following the partial exercise of the over-allotment option, the total number of ADSs sold by RenalytixAI in the Global Offering has increased to 6,291,750. \n \n \n \n \n \n All of the ADSs in the Global Offering were sold by RenalytixAI and are trading on the Nasdaq Global Market under the symbol \"RNLX\". RenalytixAI's ordinary shares are admitted to trading on the AIM market of London Stock Exchange plc (\"AIM\") under the symbol \"RENX\". Each ADS represents \n two \n ordinary shares of RenalytixAI.\n \n \n \n \n \n J.P. Morgan and Stifel acted as joint global coordinators and joint book-running managers for the Global Offering. \n \n \n \n \n \n Application has been made for the 1,613,500 new ordinary shares in the Company issued by RenalytixAI pursuant to the partial exercise of the over-allotment option, represented by the 806,750 ADSs, to be admitted to trading on AIM and it is expected that admission wi...