By Susanna Moon
Chicago, June 15 - Lombard Medical Technologies plc said it raised £7.4 million in a private placement of stock.
The company issued 29,532,660 shares at 25p each with warrants to subscribe for 8,859,798 shares.
Subscribers also will receive six warrants for every 20 new shares.
A warrants are exercisable at 31p each until June 15, 2010. B warrants are exercisable at 37p each until June 14, 2012.
Proceeds will be used for working capital.
Nomura Code is the placement agent.
Lombard is a medical device company based in London.
Issuer Lombard Medical Technologies plc
| Issue: | Stock
|
| Amount: | £7.4 million
|
| Shares: | 8,859,798
|
| Price: | 25p
|
| Warrants: | Six warrants for every 20 new shares
|
| Warrant expiration: | June 15, 2010 for A warrants; June 15, 2012 for B warrants
|
| Warrant strike price: | 31p for A warrants; 37p for B warrants
|
| Agent: | Nomura Code
|
| Announcement date: | June 15
|
| Stock symbol: | AIM: LMT
|
| Stock price: | 27.50p at close June 15
|
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