Ixico PLC - London-based medical analytics - Raises £4.0 million, as planned, from placing and subscription of new shares at 9.5 pence each. The offer price represents a 5.6% premium to the stock’s closing market price on Monday, Ixico notes. The placing is run by Cavendish Capital Markets Ltd. A separate retail share offer at the same price is targetted to raise up to an additional £250,000. ‘The net proceeds from the fundraising will be instrumental in accelerating the growth and global commercial reach of our technology platform, ensuring we can meet the increasing unmet clinical need in neurological diseases and further develop and scale our product offerings across rapidly increasing areas of drug development,’ says Chief Executive Officer Bram Goorden. Ixico calls a general meeting for October 25 to approve the equity raise.
Current stock price: 9.50p, up 5.6% in London on Wednesday for £4.6 million market capitalisation prior to admission of new shares.
12-month change: down 46%
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