News Column

Oxford BioMedica Misses Fundraising Target As Open Offer Falls Short

June 16, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Oxford BioMedica PLC said Monday that it had raised GBP21.6 million through a firm fund-raising and under-subscribed open offer, falling short of its targeted GBP25.7 million.

The biopharmaceutical company placed 1.0 billion shares at 2 pence in the firm placing, raising GBP20 million. It also launched an open offer of up to 283.2 million shares at the same price.

It received acceptances for 78.4 million shares, equivalent to 27.7%, raising GBP1.57 million.

Shares in Oxford BioMedica were trading down 2.4% at 2.00 pence Monday morning.

When the company initially announced the fund-raising in May, it said it would use the proceeds to develop and commercialise its products, and to strengthening its financial position.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters