e-Therapeutics PLC - Oxford, England-based computer-based drug discovery - Plans to raise funds in excess of GBP20 million, the proceeds of which will go towards several initiatives, including expanding the company's proprietary, disease-agnostic, drug discovery and development platform capabilities and asset pipeline.
Fundraise includes a placing of up to 74.6 million shares at a price of 24 pence each, and a subscription to raise around GBP2.1 million through the issue of 8.7 million shares at the placing prices.
SP Angel Corporate Finance LLP is acting as sole broker and bookrunner in relation to the placing.
Current stock price: 26.70 pence, down 7.3%
Year-to-date change: up 53%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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E-therapeutics (ETX)