Business
Result of Placing and Notice of General Meeting
Result of Placing and Notice of General Meeting.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 7902T\n Scancell Holdings Plc\n 22 July 2020\n \n \n \n \n NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE \n UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN, THE RUSSIAN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\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n 22 July 2020\n \n \n \n \n \n Scancell Holdings plc\n \n \n (\"Scancell\" or the \"Company\")\n \n \n \n \n \n Result of Placing \n \n \n and\n \n \n Notice of General Meeting\n \n \n \n \n \n Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer, is pleased to announce the completion of the Placing announced earlier today (the \"Placing Launch Announcement\"). The Placing was significantly oversubscribed. \n \n \n A total of 36,363,636\n \n Placing Shares have been placed by Panmure Gordon and Turner Pope at the Issue Price of 5.5 pence per share to raise approximately £2 million for the Company (before expenses) pursuant to the Placing. This is in\n \n addition to the gross proceeds from the Subscription of approximately £5 million pursuant to the proposed issue of 90,909,090 New Ordinary Shares at the Issue Price to the Redmile Funds, and the proposed subscription by the Redmile Funds and Vulpes for Convertible Loan Notes with an aggregate principal amount of £6 million. The Company is also proposing to raise up to £2 million pursuant to the Open Offer. Subject to completion of the Capital Raise and assuming full take-up under the Open Offer, the Company will receive net proceeds of approximately £14.1 million.\n \n \n The Subscription Shares and Placing Shares to be issued represent approximately 27.3 per ce...