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Amphion Innovations Sells Motif Bio Shares To Repay Loan Facility (ALLISS)

Tue, 21st Aug 2018 10:50

LONDON (Alliance News) - Amphion Innovations PLC said Tuesday it sold 3 million shares in Motif Bio PLC to institutional investors at 33.5 pence each, lowering its stake in the company to 8.51%.

The company said it will use the proceeds of USD1.3 million from the sale of Motif Bio shares to partially repay a loan facility as well as fund ongoing business operations and development of partner companies.

Following the repayment, Amphion loan balance will be USD2.8 million including fees and accrued interest.

In a separate release, Motif Bio, a clinical-stage biopharmaceutical company specialising in developing novel antibiotics, noted the sale of its shares by Amphion.

Amphion shares were untrdaed at 0.72p, while Motif Bio shares were down 3.8% at 33.53p.

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