7 July 2014
Abzena raises £20 Million in connection with forthcoming admission to AIM
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR THE COMMONWEALTH OF AUSTRALIA
London, UK – Abzena plc (“Abzena”, the “Group” or the “Company”), a revenue-generating life sciences company providing services and technologies that enable the development of better biopharmaceutical products, has conditionally raised £20 million (before expenses) by way of a placing of 25,000,000 new ordinary shares at 80 pence per share (the “Placing Price”) in conjunction with the forthcoming admission of its ordinary shares to trading on the AIM market of the London Stock Exchange (“Admission”). 3,398,750 existing ordinary shares are also being sold at the Placing Price.
Application has been made for the Company’s entire issued share capital of 97,428,858 ordinary shares of £0.002 each (as enlarged by the placing of new ordinary shares) to be admitted to trading on AIM. It is expected that dealings in the ordinary shares will commence on AIM on 10 July 2014 under the ticker ABZA (ISIN number GB00BN65QN46). At the Placing Price, the market capitalisation of Abzena on Admission would be approximately £77.9 million.
Cenkos Securities plc is acting as nominated adviser and broker to the Company.
John Burt, CEO of Abzena said: “The proceeds from the Placing and our forthcoming admission to AIM mark important milestones in Abzena’s development and provides a platform for us to grow our existing business and expand our offering as we enable our customers and partners to translate research into better biopharmaceutical products that benefit patients.
“Abzena combines a growing, high-margin service business with the potential for substantial longer term revenue streams from licences to our proprietary technologies.”