10 Nov 2023 08:00
Arix Bioscience PLC (ARIX) Portfolio Company Aura Biosciences Announces Closing of $99 million Public Offering of Common Stock 10-Nov-2023 / 08:00 GMT/BST
Arix Bioscience plc
Portfolio Company Aura Biosciences Announces Closing of $99 million Public Offering of Common Stock
LONDON, 10 November 2023: Arix Bioscience plc (“Arix” or the “Company”) (LSE: ARIX), a transatlantic venture capital company focused on investing in breakthrough biotechnology companies, notes that its Core Portfolio company, Aura Biosciences (NASDAQ: AURA) (“Aura”), has announced the closing of its underwritten public offering of 11,000,000 shares of its common stock at a price to the public of $9.00 per share.
The Company received net proceeds from the Offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, of approximately $92.6 million. The Company intends to use the net proceeds from the Offering, together with its existing cash, cash equivalents and marketable securities to advance the clinical development of belzupacap sarotalocan for the treatment of choroidal melanoma and choroidal metastasis, to develop the platform and for general corporate purposes. The Company believes that the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities, will enable it to fund its operating expenses and capital expenditure requirements into the second half of 2026.
Arix holds 1,508,483 shares in Aura. The holding value of these shares will continue to be determined by the market price of Aura’s shares.
The full text from Aura’s announcement can be accessed on the Aura Biosciences website here: https://ir.aurabiosciences.com/press-releases
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Enquiries For more information on Arix, please contact:
Arix Bioscience plc +44 (0)20 7290 1050 ir@arixbioscience.com
Powerscourt Group Sarah MacLeod, Ibrahim Khalil, Nick Johnson +44 (0)20 7250 1446 arix@powerscourt-group.com
About Arix Bioscience plc Arix Bioscience plc is a transatlantic venture capital company focused on investing in breakthrough biotechnology companies around cutting-edge advances in life sciences.
We collaborate with exceptional entrepreneurs and provide the capital, expertise, and global networks to help accelerate their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth phase of our industry to a broader range of investors. www.arixbioscience.com
Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | GB00BD045071 |
| Category Code: | MSCM |
| TIDM: | ARIX |
| LEI Code: | 213800OVT3AHQCXNIX43 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 283959 |
| EQS News ID: | 1770215 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement.