Nomura Code Securities assists in raising funds for working capital
By Devika Patel
Knoxville, Tenn., March 11 - Futura Medical plc said it will conduct a private placement of shares. Nomura Code Securities Ltd. is the agent for the £3.2 million deal.
The company will sell 4,737,402 ordinary shares at 67.5p each. The price per share is a 7.53% discount to the March 10 closing share price of 73p.
Proceeds will provide additional working capital, progress the company's earlier stage projects, RAD100 and TPR100-Rx, and bring new product opportunities developed in-house into the company's development pipeline.
Futura is a Guildford, England-based pharmaceutical and medical device company.
| Issuer: | Futura Medical plc
|
| Issue: | Ordinary shares
|
| Amount: | £3,197,746
|
| Shares: | 4,737,402
|
| Price: | 67.5p
|
| Warrants: | No
|
| Agent: | Nomura Code Securities Ltd.
|
| Pricing date: | March 11
|
| Stock symbol: | London: FUM
|
| Stock price: | 69.5p at close March 11
|
| Market capitalization: | £49.26 million
|
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