Business
Proposed Capital Raise to raise approximately £6m
Proposed Capital Raise to raise approximately £6m.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n\nNOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN 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 \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF EU REGULATION NO. 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK 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 \n30 November 2023\n \nScancell Holdings plc\n \n (\"Scancell\" or the \"Company\")\n \nProposed Capital Raise to raise approximately £6 million\n \nScancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, today announces a proposed capital raise (the \"Capital Raise\") to raise in aggregate approximately £8 million before expenses, comprising:\n· a placing of new ordinary shares of 0.1 pence each in the capital of the Company (\"Ordinary Shares\") with new and existing institutional and certain other investors to raise approximately £6 million (the \"Placing\") at an issue price of 11.0 pence per Ordinary Share (the \"Issue Price\");\n· a subscription by certain members of the Company's board of directors (the \"Directors\" or the \"Board\"), being Dr Jean-Michel Cosséry (Non-Executive Chairman) and Professor Lindy Durrant (Chief Executive Officer and Executive Director) (the \"Board Subscribers\") for an aggregate subscription amount of £80,000 at the Issue Price (the \"Subscription\"); and\n· an o...