LONDON - Scancell Holdings Plc (AIM: SCLP), a developer of novel immunotherapies for cancer treatment, announced today a retail offer to raise up to approximately £1 million through the issuance of new ordinary shares. The offer is part of a larger capital raise effort which includes a separate placing to secure a minimum of £8.5 million and a director's subscription of approximately £20,000.
The retail offer, conducted via the Winterflood Retail Access Platform (WRAP), is exclusively available to existing retail shareholders in the United Kingdom (TADAWUL:4280). These shareholders have the opportunity to purchase up to 9,523,809 new ordinary shares at an issue price of 10.5 pence per share, which represents a 22.2% discount to the mid-market closing price as of today.
The company has stated that the net proceeds from the retail offer will provide additional working capital and strengthen the balance sheet. The offer is expected to close on Monday, and the results will be announced shortly thereafter. Retail brokers can participate on behalf of their clients by contacting Winterflood Securities.
This fundraising initiative is conditional on the new ordinary shares being admitted to trading on AIM, with anticipated commencement on 10 December 2024.
Investors are advised to conduct their own due diligence, as investments carry risks and the value can fluctuate. The retail offer is not being made outside the United Kingdom, and no prospectus or offering document has been approved by the Financial Conduct Authority or any other authority in relation to the offer.
This news is based on a press release statement from Scancell Holdings Plc.
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