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LONDON - SkinBioTherapeutics plc (AIM:SBTX) announced today a retail offer through the Winterflood Retail Access Platform (WRAP) to raise up to £0.62 million by issuing new ordinary shares.
The life science company focused on skin health is making available up to 3,617,647 new ordinary shares at 17 pence per share through the WRAP Retail Offer, according to a press release statement.
This retail offer runs alongside a previously announced placing and subscription of 24,117,645 new ordinary shares to raise approximately £4.1 million. The issue price represents no discount to the closing bid price on June 13.
The company stated that eligible investors in the United Kingdom (TADAWUL:4280) who are existing shareholders can participate through their brokers or wealth managers. The offer is expected to close at 4:30 p.m. on Thursday, June 19.
Participation requires a minimum subscription of £100 per investor. The company reserves the right to amend the size of the retail offer, scale back orders, or reject applications without providing reasons.
The WRAP Retail Offer is conditional upon completion of the previously announced fundraising, though the fundraising itself is not dependent on the retail offer’s completion.
New shares from both the fundraising and retail offer are anticipated to be admitted to trading on AIM on June 24.
The company noted that once applications for shares have been made and accepted via an intermediary, they cannot be withdrawn. The new ordinary shares will rank equally with existing shares, including rights to dividends and distributions.
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