Synairgen plc

Result of Open Offer

RNS Number : 8527D
Synairgen plc
02 November 2020
 

Information within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION

Synairgen plc

("Synairgen" or the "Company") 

Result of Open Offer

 

Southampton, UK - 2 November 2020: Synairgen plc (LSE: SNG), the respiratory drug discovery and development company, announces that it has conditionally raised total gross proceeds of approximately 7 million through the Open Offer which was announced on 15 October 2020, representing the full amount proposed under the Open Offer.

Accordingly, the Company has conditionally raised total gross proceeds of approximately £87 million (before expenses) in aggregate by way of the Placing (which was also announced on 15 October 2020) and the Open Offer. 

Applications have been made to the London Stock Exchange for the admission of 34,809,726 New Ordinary Shares to trading on AIM (the "Conditional Admission"). This comprises (i) 30,770,985 Conditional Placing Shares; and (ii) 4,038,741 Open Offer Shares. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares. Conditional Admission is expected to occur on or around 4 November 2020, subject to passing the relevant resolutions at the General Meeting to be held later today.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the announcement of the Fundraising made by the Company on 14 October 2020.

Enquiries:

Synairgen plc                                                                                                                    +44 (0) 23 8051 2800

Richard Marsden (Chief Executive Officer)

John Ward (Finance Director)

finnCap - Nominated Adviser and Joint Bookrunner                                                +44 (0) 20 7220 0500

Geoff Nash / James Thompson / Charlie Beeson (Corporate Finance)

Alice Lane / Sunila de Silva (ECM)

Numis - Joint Bookrunner                                                                                              +44 (0) 20 7260 1000

James Black / Freddie Barnfield / Duncan Monteith

Consilium Strategic Communications - Financial Media and Investor                  +44 (0) 20 3709 5700

Relations Adviser

Mary-Jane Elliott / Sue Stuart / Olivia Manser

 

 

 About Synairgen

Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Sir Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on lung viral defence in asthma, COPD and COVID-19, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease. Synairgen is quoted on AIM (LSE: SNG). For more information about Synairgen, please see www.synairgen.com

 

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.  This announcement is not an offer of securities for sale into the United States.  The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.  No public offering of securities is being made in the United States.

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