Oncimmune Holdings PLC - Nottingham, England-based autoantibody profiling research services to pharmaceutical and biotechnology industry to enable delivery of precision medicine - Recapitalises two-thirds of its debt and launches a new share offer to raise funds to support recent contract wins and prepare for its ‘next stage of growth’.

Seeks to raise £2.3 million from a share placing, subscription and retail offer, all at 15 pence per share. Oncimmune aims to sell at least 11.5 million new shares to raise £1.7 million in a placing run as an accelerated bookbuild by brokers Cavendish and Zeus. It aims to raise a further £275,000 from a subscription for at least 1.8 million shares by some directors and existing shareholders. A retail share offer of up to 2.0 million shares could raise an additional £300,000.

At the same time, €4.0 million in existing debt will be converted into equity at the same price of 15p per share. That will leave €4.0 million in principal debt outstanding for Oncimmune.

Plans to hold a general meeting around November 8 to approve the fundraise.

Current stock price: 15.50p, up 12% on Friday in London

12-month change: down 9.1%

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