Business
Investment of £1.56m from new investors
Investment of £1.56m from new investors.
About this update from Skinbiotherapeutics Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. 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\n \nSkinBioTherapeutics plc\n(\"SkinBioTherapeutics\" or \"the Company\")\n \nInvestment of £1.56m from new investors\n \n· Company was not actively seeking further funding, already funded to Q1 2025\n· However, investment removes any uncertainty about medium term financing\n· Underpins delivery of current project pipeline and strengthens balance sheet for potential acquisition\n· This uses the Company's remaining share capital authority this year\n \n02 August 2024 - SkinBioTherapeutics plc (AIM: SBTX), a life science company focused on skin health, has raised £1.56m (before expenses) via the investment of 14,875,749 Placing Shares at the Issue Price of 10.5 pence per share with new investors Premier Miton, the institutional investment manager, and Cynosure Capital Pty Ltd.\nThe Company was not actively seeking any additional funding and, as stated in the Full Year Trading update on 29 July 2024, it had sufficient cash to fund it to 2025. Premier Miton and Cynosure Capital Pty Ltd were unable to participate in the conversion of the Convertible Bond Facility due to it being already fully allocated, and so have invested via a placing, as they were keen to suppo...