Business
Proposed investment by Redmile and Open Offer
Proposed investment by Redmile and Open Offer.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7108B\n Scancell Holdings Plc\n 12 October 2020\n \n \n \n \n NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE \n UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN, THE RUSSIAN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 12 October 2020\n \n Scancell Holdings plc\n (\"Scancell\" or the \"Company\")\n \n \n \n Proposed investment by funds managed by Redmile Group, LLC of up to £30 million for pipeline development by way of a subscription for ordinary shares of £12.1 million and convertible loan notes of £17.9 million\n \n Open Offer to raise up to approximately £3 million\n \n \n \n \n Notice of General Meeting\n \n \n Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, today announces that it has raised gross proceeds of approximately £30 million from funds managed by Redmile Group, LLC (the \"Redmile Funds\"), a US based specialist healthcare and life sciences investment firm (the \"Redmile Investment\"). Alongside the Redmile Investment, the Company also proposes to make an open offer to all Qualifying Shareholders to raise additional gross proceeds of up to approximately £3.0 million for the Company (the \"Open Offer\"). \n \n \n The Company intends to use the proceeds of the Redmile Investment and the Open Offer (together the \"Capital Raise\") to extend t...