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Midatech Pharma Applies To US Regulator For Share Issue Authority

Tue, 24th Sep 2019 14:32

(Alliance News) - Midatech Pharma PLC said Tuesday it applied to US regulators to allow it to raise up to USD50 million through share offers over the next three years.

Midatech - which is also listed on the Nasdaq in new York - filed a shelf registration application to the US Securities & Exchange Commission. The common process for Nasdaq-listed firms, once effective, will give Midatech "more timely and efficient access to the US capital markets."

The shelf registration will allow Midatech to offer, issue and sell shares in one or more offers up to a total of USD50 million of ordinary shares or warrants. The registration remains valid for up to three years.

Shares in Midatech were 6.1% lower at 5.40 pence in London on Tuesday.

By Ahren Lester; ahrenlester@alliancenews.com