Business
Placing and Subscription to raise £1,750,000
Placing and Subscription to raise £1,750,000.
About this update from Thalia Therapeutics Plc
[{"type":"text","content":"\n\n \n1 April 2025\nN4 Pharma plc\n \n(\"N4 Pharma\" or the \"Company\")\n \nPlacing and Subscription to raise £1,750,000\n \nN4 Pharma plc (AIM: N4P), the UK biotech developing Nuvec®, its proprietary gene delivery system to enable advanced therapies for cancer and other diseases, is pleased to announce a placing and subscription for 437,500,000 new ordinary shares of 0.4p each in the Company (\"Ordinary shares\") at an issue price of 0.4p (\"Issue Price\") to raise gross proceeds of £1,750,000 (the \"Fundraise\").\n \nThe Fundraise comprises 247,500,000 placing shares (\"Placing Shares\") and 190,000,000 subscription shares (\"Subscription Shares\"), (together the \"Fundraise Shares\"). 142,780,350 of the Fundraise Shares have been issued utilising the Company's existing authorities (the \"First Issue Shares\") and 294,719,650 shares will be issued subject to shareholder approval at a General Meeting to be held on 22 April 2025 (the \"Second Issue Shares\").\n \nEach placing and subscription share will have one warrant attached, exercisable at 0.8p for a period of three years from the second admission date (the \"Fundraising Warrants\"). The issuance and exercise of all Fundraising Warrants will be conditional upon the passing of the necessary resolutions at the General Meeting.\n \nThe net proceeds of the Fundraise will be used to advance the Nuvec® platform to the point of commercialisation which the Board considers to be a point of significant value uplift for the Company.\n \nIn the past few years, the Company has explored several of the applications of the Nuvec® platform and this work has clearly highlighted that the foremost opportunity for the platform is to deliver RNA therapeutics. Accordingly, the Company will now utilise the proceeds from the Fundraise to complete the key data packages required to secure platform partnerships and licensing deals. This work is expected to take approximately twelve months during which time the Company anticipates generating strong news flow arising from the workstreams and its partnering activities.\n \nSpecifically, the proceeds of the Fundraise will be used to generate data on:\n \n• Preliminary CMC (Chemistry, Manufacturing and Controls) and a scale-up strategy which is critical to the supply of material to...