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NuCana plc (NASDAQ:NCNA) announced Monday that it has entered into a sales agreement with A.G.P./Alliance Global Partners (NYSE:GLP) and Laidlaw & Company (UK) Ltd., allowing the company to offer and sell American Depositary Shares (ADSs) with a total value of up to $100 million. Each ADS represents 25 ordinary shares of NuCana.
According to a statement released through a U.S. Securities and Exchange Commission filing, the sales may occur from time to time through or to the agents, who will act as sales agents. The offering will be conducted under a shelf registration statement on Form F-3, which was declared effective by the SEC on June 24, 2025.
NuCana is not obligated to sell any ADSs under the agreement. Sales, if made, will be conducted as “at the market offerings” in accordance with Rule 415(a)(4) under the Securities Act, and will be subject to customary closing conditions. The agents will use commercially reasonable efforts to sell the ADSs in compliance with applicable laws and the rules of The Nasdaq Stock Market.
The agreement specifies that the agents will receive commissions of up to 3% of the gross proceeds from any ADS sales. NuCana has also agreed to provide customary indemnification and contribution rights to the agents and will reimburse certain specified expenses.
The offering will terminate upon the termination of the agreement by either NuCana or the agents, or by mutual agreement as outlined in the agreement.
Additionally, NuCana held its Annual General Meeting on Friday at its headquarters in Edinburgh, United Kingdom (TADAWUL:4280). All resolutions proposed in the company’s notice of meeting dated June 5, 2025, were passed.
This information is based on a press release statement filed with the SEC.
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