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Plethora Solutions Holdings PLC Announces Placing And Subscription To Raise GBP4.4 million


Tuesday, 15 Oct 2013 10:16am EDT 

Plethora Solutions Holdings PLC announced that it has entered into agreements to raise GBP4.4 million by way of a Placing & Subscription at GBP0.09 per share through the issue of 49,000,000 New Ordinary Shares. Gross proceeds of the financing amount to GBP4.4 million, estimated to be GBP4.2 million net of expenses. Placing & Subscription of 49,000,000 New Ordinary Shares at a Placing Price of GBP0.09 per share. The proceeds of the financing will be used to: complete the final steps in the European regulatory approval of PSD502; prepare the filing and prosecution of New Drug Application (NDA) with the US Food and Drug Administration (FDA); and provide working capital, including to continue the Group's partnering activities in connection with the commercial launch of PSD502. GBP1.8 million provided by investment funds associated with Jim Mellon. GBP0.1 million provided by other directors including Dr Greg Bailey, Ronald Openshaw and Prof. Mike Wyllie. GBP2.4 million provided by institutional investors. 

Company Quote

3.75
-0.125 -3.23%
12:10pm EDT