N4 Pharma PLC Placing to raise GBP2 million (0543I)
December 09 2020 - 2:10AM
UK Regulatory
TIDMN4P
RNS Number : 0543I
N4 Pharma PLC
09 December 2020
9 December 2020
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 ("MAR"). In addition,
market soundings (as defined in MAR) were taken in respect of the
Placing with the result that certain persons became aware of inside
information (as defined in MAR), as permitted by MAR. This inside
information is set out in this announcement. Therefore, those
persons that received inside information in a market sounding are
no longer in possession of such inside information relating to the
Company and its securities.
N4 Pharma plc
("N4 Pharma" or the "Company")
Placing to raise GBP2 million
N4 Pharma Plc (AIM: N4P), the specialist pharmaceutical company
developing Nuvec(R), a novel delivery system for cancer treatments
and vaccines, is pleased to announce that it has raised GBP2
million (before expenses) through a placing of 25,000,000 new
ordinary shares of 0.4p each in the Company (the "Placing Shares")
at an issue price of 8p per Placing Share (the "Placing"). The
Placing, which was significantly oversubscribed, was undertaken by
SP Angel Corporate Finance LLP.
The net proceeds of the Placing will be used for:
-- the extension of the formulation and current stability work
covering DNA and mRNA formulations;
-- research on and evaluation of an additional asset to add to the Company portfolio;
-- business development driven by study results pending over next six months; and
-- ongoing working capital.
Nigel Theobald, Chief Executive of N4 Pharma, commented: "We are
delighted with the positive response to our recent formulation
work. With vaccines and their delivery very much in the public
consciousness we continue to grow our data package to present
Nuvec(R) as a viable delivery technology solution to improve the
delivery, storage and transportation of multiple existing and new
vaccines.
"Whilst we are well funded for all existing work streams these
additional funds will enable us to plan for follow on studies and
more product focussed experiments as we move towards
collaborations."
Application for Admission
The Placing has been conducted utilising the Company's existing
share authorities. Application has been made for the Placing Shares
to be admitted to trading on AIM ("Admission") and it is expected
that Admission will take place and that trading will commence on
AIM at 8.00 a.m. on or around 14 December 2020. Once issued, the
new Ordinary Shares will rank pari passu with the Company's
existing ordinary shares.
Total Voting Rights
Following Admission, the enlarged issued share capital of the
Company will comprise 181,080,349 Ordinary Shares of 0.4 pence
each. The Company does not hold any ordinary shares in treasury.
Consequently, 181,080,349 is the figure which may be used by
shareholders as the denominator for the calculation by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.
Enquiries:
N4 Pharma plc
Nigel Theobald, CEO Via IFC Advisory
Luke Cairns, Executive Director
SP Angel Corporate Finance LLP Tel: +44(0)20 3470
0470
Nominated Adviser and Joint Broker
Matthew Johnson/Caroline Rowe (Corporate
Finance)
Vadim Alexandre/Abigail Wayne/Rob Rees
(Corporate Broking)
Turner Pope Investments (TPI) Limited Tel: +44(0)20 3657
0050
Joint Broker
Andy Thacker
IFC Advisory Ltd Tel: +44(0)20 3934
6630
Financial PR
Graham Herring
Zach Cohen
About N4 Pharma
N4 Pharma is a specialist pharmaceutical company developing a
novel delivery system for cancer and vaccine treatments using its
unique silica nanoparticle delivery system called Nuvec(R).
N4 Pharma's business model is to partner with companies
developing novel antigens for cancer and vaccine treatments to use
Nuvec(R) as the delivery vehicle to get their antigen into cells to
express the protein needed for the required immunity. As these
products progress through pre clinical and clinical programs, N4
Pharma will seek to receive up front payments, milestone payments
and ultimately royalty payments once products reach the market.
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