Offering proceeds to be used for development of four drug candidates
By Devika Patel
Knoxville, Tenn., Feb. 15 - e-Therapeutics plc said it has negotiated a private placement of shares. The deal priced for £17.61 million.
The company will sell 67,740,904 ordinary shares at 26p each. The per-share price is a 1.96% premium to the Feb. 14 closing share price of 25.5p.
Proceeds will be used to develop four drug candidates through clinical trials, to generate more internal development candidates, broaden and deepen the company's portfolio and pursue further collaborative business development.
Based in Newcastle Upon Tyne, United Kingdom, e-Therapeutics is a drug discovery company.
| Issuer: | e-Therapeutics plc
|
| Issue: | Ordinary shares
|
| Amount: | £17,612,635
|
| Shares: | 67,740,904
|
| Price: | 26p
|
| Warrants: | No
|
| Pricing date: | Feb. 15
|
| Stock symbol: | London: AEX
|
| Stock price: | 25.81p at close Feb. 15
|
| Market capitalization: | £16.68 million
|
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