Business
Proposed Capital Raise
Proposed Capital Raise.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 7328T\n Scancell Holdings Plc\n 22 July 2020\n \n \n \n \n NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE \n UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN, THE RUSSIAN FEDERATION, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN ANY JURISDICTION. 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 JURISDICTION. \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU (\"MAR\"). IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \n \n \n 22 July 2020\n \n Scancell Holdings plc\n (\"Scancell\" or the \"Company\")\n \n \n \n Proposed Capital Raise to raise up to £15 million\n \n \n Proposed Capital Raise led by funds managed by Redmile Group, LLC and Vulpes Life Sciences Fund\n \n \n \n Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer, today announces a proposed conditional Capital Raise to raise in aggregate up to approximately £15 million before expenses, comprising:\n \n \n · \n a Subscription for 90,909,090 New Ordinary Shares for £5 million at an Issue Price of 5.5 pence per share by funds managed by Redmile Group LLC, a US based specialist healthcare and life sciences investment firm;\n \n \n · \n a subscription for Convertible Loan Notes with an aggregate principal amount of £6 million and conversion price of 6.2 pence per share (subject to customary adjustments), with £5 million in principal amount to be subscribed for by the Redmile Funds and £1 million in principal amount to be subscribed for by Vulpes; \n \n \n · \n a Placing with new and existing institutional Shareholders to raise a...