By Sheri Kasprzak
New York, Feb. 27 - Vastox plc said it wrapped a £10.45 million private placement.
The company issued 5,903,955 shares at 177p each to institutional investors.
Proceeds from the deal will be used to accelerate the development of the company's lead therapeutic product in Duchenne muscular dystrophy.
Evolution Securities Ltd. was the placement agent.
Based in Abingdon, England, Vastox provides screening services to pharmaceutical and agrochemical sectors. The company also conducts drug discovery programs in selected areas.
| Issuer: | Vastox plc
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| Issue: | Stock
|
| Amount: | £10.45 million
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| Shares: | 5,903,955
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| Price: | 177p
|
| Warrants: | No
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| Placement agent: | Evolution Securities Ltd.
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| Settlement date: | Feb. 27
|
| Stock symbol: | London: VOX
|
| Stock price: | 191.6p at close Feb. 24
|
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