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Placing to raise £2m & appointment of Joint Broker
Placing to raise £2m & appointment of Joint Broker.
About this update from Thalia Therapeutics Plc
[{"type":"text","content":"\n \n \n RNS Number : 8099M\n N4 Pharma PLC\n 13 May 2020\n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n 13 May 2020\n \n N4 Pharma Plc\n (\"N4 Pharma\" or the \"Company\")\n \n Placing to raise £2 million and appointment of Joint Broker\n \n N4 Pharma Plc (AIM: N4P), the specialist pharmaceutical company developing Nuvec®, a novel delivery system for cancer treatments and vaccines, is pleased to announce that it has raised £2,029,250 (£1,907,495 net of expenses) through an oversubscribed placing of 50,731,250 new ordinary shares of 0.4p each in the Company (the \"Placing Shares\") at an issue price of £0.04 per Placing Share (the \"Placing\").\n \n Following the successful Placing, the Company will appoint Turner Pope Investments (TPI) Limited (\"TPI\") as Joint Broker with effect from admission of the Placing Shares to trading on AIM, as detailed below.\n \n Highlights\n \n \n · Oversubscribed placing to raise £2.029m utilising the Company's existing share authorities\n \n · The Placing Shares will represent approximately 33.33 per cent. of the enlarged issued share capital of the Company\n \n · The net proceeds of the Placing will be applied to:\n \n o expand the proof of concept research on the Covid-19 DNA plasmid project, as announced on 25 March 2020;\n \n o increased manufacture of the Nuvec® nanoparticle for further collaboration with partners;\n \n o further studies on the use of Nuvec® to support the recently filed patent on use of Nuvec® for viral vector manufacture; and\n \n o fund the continued growth of the Company, including for working capital purposes.\n \n · Mixture of new and existing institutional and other investors took part in the Placing.\n \n \n \n Nigel Theobald, Chief Executive of N4 Pharma, commented: \"We are delighted with the support for the Company through the Placing in challenging market conditions. We continue to demonstrate the potential Nuvec® has as a delivery system for nucleic acids. The current focus...