Overview
Zeus is pleased to announce that it has acted as Sole Broker in the oversubscribed £9m placing for Avacta Group plc (AVCT).
The net proceeds of the placing will allow the Company to pay their deferred convertible bond repayments in cash and, in addition, pay an additional quarterly payment in cash if required.
The placing was conducted at the mid-market price, significantly higher than the potential share-based payment prices, thereby resulting in a reduction in potential shareholder dilution whilst also strengthening the Company’s balance sheet.
Company information
Avacta Therapeutics is a clinical-stage life sciences company expanding the reach of highly potent cancer therapies with the pre|CISION® platform.
James Hornigold
Director, Investment Banking“We are delighted to have supported Avacta again in this recent fundraising, at the market price, which evidences investor interest and support for the Company and its future prospects”
Contact
If you would like further information, please get in touch with our team.
This web page constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and has been approved by Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority.