Redx Pharma PLC - Macclesfield, England-based clinical-stage biotechnology company focused on the treatment of cancer and fibrotic disease - Chief Scientific Officer Richard Armer and other current and former employees look to sell 1.5 million shares at a minimum price of 59 pence each via an accelerated bookbuild, which is 11% discount to Tuesday's closing price of 66.50p.
Armer himself will sell up to 500,000 shares, while the other optionholders intend to dispose of 1.0 million shares.
Panmure Gordon UK Ltd and WG Partners LLP are acting as joint brokers.
Redx Pharma will not receive any proceeds from the sale.
Current stock price: 61.88 pence, down 7.0% on Wednesday
12-month change: up 8.0%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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