Business
Results of Fundraise
Results of Fundraise.
About this update from Shield Therapeutics Plc
[{"type":"text","content":"\n \nRNS Number : 2228I Shield Therapeutics PLC 15 June 2017 \n\nShield Therapeutics\nResults of Fundraise\nShield Therapeutics PLC\n15 June 2017\n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.\n \nShield Therapeutics plc\n(\"Shield\" or the \"Company\" or the \"Group\")\nLondon, UK, 15 June 2017\nShield Therapeutics plc (LSE:STX), the specialty pharmaceutical company focused on the development and commercialisation of late-stage pharmaceuticals that address unmet medical needs in secondary care, is pleased to announce the completion of the Fundraise (as defined below) which was announced earlier today.\nThe Company has raised a total of approximately £12 million (before expenses) through (i) a co-ordinated exercise of 6,870,536 existing warrants at an exercise price of 150p per share raising approximately £10.3 million (the \"Warrant Exercise\"), and simultaneously with the Warrant Exercise (ii) a placing of 1,000,000 new ordinary shares at 150p per share raising £1.5 million (the \"Placing\") and (iii) a subscription of 96,669 new ordinary shares at 150p per share by certain directors and a senior manager of the Company raising approximately £0.145 million (the \"Subscription\" and, together with the Placing and the Warrant Exercise, the \"Fundraise\").\nThe Fundraise will result in the issue of an aggregate of 7,967,205 new ordinary shares (the \"New Ordinary Shares\"), representing approximately 7.4 per cent of the existing issued ordinary share capital of the Company.\nLiberum Capital Limited (\"Liberum\") and Peel Hunt LLP (\"Peel Hunt\") acted as joint bookrunners (together, the \"Joint Bookrunners\") in respect of the Placing. Liberum acted as Nominated Adviser to the Company.\nCarl Sterritt, Chief Executive Officer and Founder of Shield Therapeutics, commented: \"This successful fundraise will allow Shield to further accelerate the commercialisation of Feraccru in Ger...