Proceeds to expand nicotine gum distribution, fund regulatory dossiers
By Toni Weeks
San Diego, July 5 - Revolymer Ltd. said it will raise £25 million in a private placement of ordinary shares by conditionally placing 25 million shares with institutional investors at a price of 100p per share.
Panmure Gordon (UK) Ltd. is acting as nominated adviser and broker for the placement.
The admission of the company's entire issued share capital, including the private placement shares, to trading on the AIM market of the London Stock Exchange is expected on July 10, according to a company press release.
Revolymer will use proceeds to expand the distribution of its confectionery gum products in the United States and into Europe, to fund additional regulatory dossiers in connection with its nicotine gum commercialization and for the development of its consumer specialties products.
The Flintshire, England, company designs, develops and formulates polymers to improve the performance of existing consumer products, including nicotine gum, coatings and adhesives, household cleaning products and personal care products.
| Issuer: | Revolymer Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £25 million
|
| Shares: | 25 million
|
| Price: | 100p
|
| Warrants: | No
|
| Adviser/broker: | Panmure Gordon (UK) Ltd.
|
| Pricing date: | July 4
|
| Stock symbol: | London: REVO (as of July 10)
|
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