S&P 500 falls on pressure from retail stocks, weak jobless claims
LONDON - Oxford Biomedica plc (LSE:OXB), a cell and gene therapy contract development and manufacturing organization, has completed a £60 million fundraising through a placing and subscription of new shares, according to a press release issued Friday.
The company placed approximately 12.2 million new ordinary shares at £4.31 per share, representing a 1.93 percent discount to the closing price of £4.40 on August 14. Additionally, existing shareholders subscribed for about 1.7 million shares at the same price.
The combined 13.9 million new shares represent 13.1 percent of Oxford Biomedica’s issued share capital prior to the transaction.
The company stated that proceeds will fund strategic investments to expand its US commercial-scale capacity and enhance process quality, productivity and yields. This expansion aims to address growing client demand across clinical phases, including late-stage and commercial supply.
The fundraising attracted support from both new investors, including Massachusetts Institute of Technology, and existing shareholders such as Briarwood Chase Management, Novo Holdings A/S and Institut Mérieux S.A.
Applications have been made to the Financial Conduct Authority and London Stock Exchange for admission of the new shares, which is expected to occur on August 20. Following admission, Oxford Biomedica will have 120,162,121 ordinary shares in issue.
The company will be subject to a 180-day lock-up period following the placing agreement, subject to certain customary exceptions and potential waiver by the joint bookrunners Jefferies International Limited and RBC Europe Limited.
Oxford Biomedica, a FTSE4Good constituent, specializes in viral vector development and manufacturing for cell and gene therapies with facilities in the UK, France, and the US.
The information in this article is based on a press release statement from the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.