Business
Successful completion of US$18.5m Equity Fundraise
Successful completion of US$18.5m Equity Fundraise.
About this update from Shield Therapeutics Plc
[{"type":"text","content":"\n \n \n \n 13 December 2022\n \n \n \n \n \n \n \n THIS 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, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n \n \n \n FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN\n \n \n OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN SHIELD THERAPEUTICS PLC IN ANY JURISDICTION.\n \n \n \n \n \n \n \n \n \n Shield Therapeutics plc\n \n \n \n \n (\"Shield\" or the \"Company\")\n \n \n \n \n \n \n \n Successful completion of US$18.5 million Equity Fundraise\n \n \n \n \n \n \n London, UK - 13 December 2022: Shield Therapeutics plc (LSE: STX),\n a commercial stage pharmaceutical company\n , is pleased to announce the successful completion of the placing (the \"Placing\") and the subscription (the \"Subscription\") which were announced earlier today. The Placing and Subscription were oversubscribed and accordingly have raised gross proceeds of c. US$18.5m (c. £15.1m) conditional inter alia on shareholder approval. A total of 251,495,378 new Ordinary Shares to be allotted pursuant to the Placing and the Subscription are to be issued at an issue price of 6 pence per share (the \"Issue Price\"). The Company also announced details of an open offer to be made to Qualifying Shareholders to raise up to an additional £3.9m (the \"Open Offer\", and together with the Placing and the Subscription, the \"EquityFundraising\").\n \n \n \n \n \n Pursuant to the Placing a total of 182,939,917 new ordinary shares of\n 1.5\n pence each in the capital of the Company (the \"Placing Shares\") have been conditionally placed by Peel Hunt LLP (\"Peel Hunt\") and finnCap Ltd (\"finnCap\", and together with Peel Hunt, the \"Joint Bookrunners\") with new and existing investors at the Issue Price. \n \n \n \n \n \n Additionally, pursuant to the Subscription, AOP Health International Management AG (\"AOP\"), a major shar...