TIDMN4P
RNS Number : 8278G
N4 Pharma PLC
18 November 2022
18 November 2022
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 which has been
incorporated into UK law by the European Union (Withdrawal) Act
2018. Upon the publication of this announcement via Regulatory
Information Service, this inside information is now considered to
be in the public domain.
N4 Pharma plc
("N4 Pharma" or the "Company")
Placing to raise GBP1million
Broker Offer
N4 Pharma Plc (AIM: N4P), the specialist pharmaceutical company
developing Nuvec(R), a novel delivery system for cancer treatments
and vaccines, is pleased to announce that it has raised GBP1
million (before expenses) through a placing of 50,000,000 new
ordinary shares of 0.4p each in the Company (the "Placing Shares")
at an issue price of 2p ("Issue Price") per Placing Share (the
"Placing"). The Placing was undertaken by Turner Pope Investments
(TPI) Limited ("TPI").
The net proceeds of the Placing will be used to progress the
Company's development work relating to the loading of SiRNA onto
Nuvec (R), including to commit to doing in-vivo studies and also to
explore acquisition opportunities.
Nigel Theobald, Chief Executive of N4 Pharma, commented: "The
additional funding raised provides sufficient working capital for
our Nuvec(R) program into 2024 and will enable us to do more in
vivo development work on double loaded SiRNA on Nuvec(R) and begin
business development on this opportunity. Alongside this, we will
undertake further research to support our patent application on the
use of Nuvec(R) to improve the efficiency of viral vectors and
start business development activities in this area.
"This funding will also give us more scope to continue to look
for additional asset opportunities alongside Nuvec."
Broker Offer
To provide shareholders and other investors who did not
initially participate in the Placing the opportunity to invest in
the Company, under the Placing Agreement, TPI will launch a broker
offer ("Broker Offer") under which TPI will, as agent for the
Company, invite subscriptions for additional new ordinary shares
("Broker Offer Shares") with an initial expected value of GBP0.25
million at the Issue Price. The Broker Offer may be extended, with
the express agreement of the Company, to GBP1.0 million in the
event the Broker Offer is oversubscribed. The Broker Offer opens
immediately following this announcement and will close at 4.30 p.m.
on 21 November 2022.
As far as is practical, participation in the Broker Offer will
be prioritised for qualifying shareholders (direct or indirect) on
the Company's share register at the close of business on 17
November 2022 ("Existing Shareholders"). If the maximum
subscription under the Broker Offer is taken up, it will raise an
additional GBP1 million, before expenses, for the Company.
To subscribe for Broker Offer Shares, Existing Shareholders or
other interested parties who wish to register their interest in
participating in the Broker Offer should click on the following
link : N4 Pharma Broker Offer
A further announcement will be made following the end of the
period during which the Broker Offer is open. If the Broker Offer
is not fully subscribed by 4.30 p.m. on 21 November 2022, orders
from eligible investors will be satisfied in full, and the balance
of the Broker Offer shall lapse.
Broker Warrants
As part of its fee, TPI will be issued with warrants ("Broker
Warrants") to subscribe for new ordinary shares exercisable at the
Issue Price, such number of warrants that would be equivalent to 6
(six) per cent. of the gross aggregate value of funds raised in the
Placing and Broker Offer. The Broker Warrants have a term of 36
months from the date of admission of the Broker Offer Shares to
trading on AIM and are being issued under the Company's existing
share authorities.
Application for Admission
The Placing has been conducted utilising the Company's existing
share authorities. Application has been made for the Placing Shares
to be admitted to trading on AIM ("Admission") and it is expected
that Admission will take place at 8.00 a.m. on or around 24
November 2022. Once issued, the Placing Shares will rank pari passu
with the Company's existing ordinary shares.
A further announcement will be made regarding the admission to
trading of the Broker Offer Shares to be issued pursuant to the
Broker Offer which is also being conducted utilising the Company's
existing share authorities.
Total Voting Rights
Following Admission of the Placing shares, the enlarged issued
share capital of the Company will comprise 231,080,349 ordinary
shares of 0.4 pence each. The Company does not hold any ordinary
shares in treasury. Consequently, 231,080,349 is the figure which
may be used by shareholders as the denominator for the calculation
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure and Transparency Rules. A separate
notification will be made following closure of the Broker
Offer.
Enquiries:
N4 Pharma plc
Nigel Theobald, CEO Via IFC Advisory
Luke Cairns, Executive Director
SP Angel Corporate Finance LLP Tel: +44(0)20 3470
0470
Nominated Adviser and Joint Broker
Matthew Johnson/Caroline Rowe (Corporate
Finance)
Vadim Alexandre/Abigail Wayne/Rob Rees
(Corporate Broking)
Turner Pope Investments (TPI) Limited Tel: +44(0)20 3657
0050
Joint Broker
Andy Thacker
James Pope
IFC Advisory Ltd Tel: +44(0)20 3934
6630
Financial PR
Graham Herring
Zach Cohen
About N4 Pharma
N4 Pharma is a specialist pharmaceutical company developing a
novel delivery system for cancer and vaccine treatments using its
unique silica nanoparticle delivery system called Nuvec(R).
N4 Pharma's business model is to partner with companies
developing novel antigens for cancer and vaccine treatments to use
Nuvec(R) as the delivery vehicle to get their antigen into cells to
express the protein needed for the required immunity. As these
products progress through preclinical and clinical programs, N4
Pharma will seek to receive upfront payments, milestone payments
and ultimately royalty payments once products reach the market.
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