By Ronda Fears
Memphis, July 21 - ReGen Therapeutics plc announced Friday that it has raised £1.11 million through the follow-on offering of 111 million shares at 1p each via lead manager J M Finn & Co.
ReGen shares closed Thursday at 1 p in London.
Proceeds, the U.K.-based company said, will be used for the commercialization of Colostrinin per a recently announced deal with Metagenics Inc. and for further development of peptides as well as new formulations of zolpidem for the rehabilitation of people with brain injury.
Two non-executive directors are subscribing to the offering - Peter Garrod, for 2.5 million shares to bring his total stake to 66.25 million or 9.54% of the company, and Keith Corbin, for 1 million shares making his total stake 1.105 million or 0.16%.
| Issuer: | ReGen plc
|
| Issue: | Follow-on stock offering
|
| Gross proceeds: | £1.11 million
|
| Shares: | 111 million shares
|
| Price: | 1p
|
| Bookrunner: | J M Finn & Co.
|
| Pricing date: | July 20
|
| Settlement date: | July 27
|
| Stock symbol: | London: RGT
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
