Result of Open Offer
Wednesday March 15, 2023
Wednesday March 15, 2023
THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Destiny Pharma plc
Result of Open Offer
Destiny Pharma plc (AIM:DEST) (the “Company” or “Destiny Pharma”), a clinical stage innovative biotechnology company focused on the development of novel medicines that can prevent life‐threatening infections, announces that it has conditionally raised total gross proceeds of approximately £0.34 million through the Open Offer which was announced on 24 February 2023, representing approximately 33 per cent. proposed under the Open Offer.
Accordingly, the Company has conditionally raised total gross proceeds of approximately £7.34 million in aggregate by way of the Placing, the Subscription (which was also announced on 24 February 2023) and the Open Offer.
Applications have been made to the London Stock Exchange for the admission of a total of 6,676,242 New Ordinary Shares to trading on AIM. This comprises (i) 5,642,858 Second Placing Shares; (ii) 71,428 Subscription Shares and (iii) 961,956 Open Offer Shares. The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares. Admission of the Second Placing Shares, Subscription Shares and Open Offer Shares is expected to occur on 17 March 2023, subject to Shareholders passing the relevant Resolutions at the General Meeting to be held on 16 March 2023.
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 24 February 2023.
For further information, please contact:
Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
+44 (0)1273 704 440
pressoffice@destinypharma.com
Optimum Strategic Communications
Mary Clark / Nick Bastin / Manel Mateus / Eleanor Cooper
+44 (0) 203 922 0891
DestinyPharma@optimumcomms.com
finnCap Ltd (Nominated Adviser and Joint Broker)
Geoff Nash / Abigail Kelly / George Dollemore, Corporate Finance
Alice Lane / Nigel Birks / Harriet Ward, ECM
+44 (0)20 7220 0500
Shore Capital (Joint Broker)
Daniel Bush / James Thomas / Lucy Bowden
+44 (0) 207 408 4090
MC Services AG
Anne Hennecke / Andreas Burckhardt
+49‐211‐529252‐12
Stern IR ‐ US
Janhavi Mohite
+1‐212‐362‐1200
Janhavi.Mohite@sternir.com
About Destiny Pharma
Destiny Pharma is a clinical stage, innovative biotechnology company focused on the development of novel medicines that can prevent life‐threatening infections. Its pipeline has novel microbiome‐based biotherapeutics and XF drug clinical assets – XF‐73 nasal gel, which has completed a positive Phase 2b clinical trial targeting the prevention of post‐surgical staphylococcal hospital infections including MRSA. It is also codeveloping SPOR‐COV, a novel, biotherapeutic product for the prevention of COVID‐19 and other viral respiratory infections and has earlier grant funded XF drug research projects.
For further information on the Company, please visit https://destinypharma.com