Update on proposed IPO of ExscientiaSource: RNS
The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
27 September 2021
Frontier IP Group Plc
("Frontier IP" or the "Group")
Portfolio news - Update on proposed initial public offering of Exscientia in the United States
Frontier IP, a specialist in commercialising intellectual property, notes that an updated registration statement on Form F-1/A (the "Amended Registration Statement") has been filed today for portfolio company Exscientia plc ("Exscientia") with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering (the "IPO") in the United States of its American Depositary Shares ("ADSs"), each ADS representing one ordinary share in Exscientia.
The Amended Registration Statement has been filed with the SEC but has not yet become effective. The Amended Registration Statement can be accessed at the following link: https://www.sec.gov/Archives/edgar/data/1865408/000110465921119607/tm2119783-11_f1a.htm
The Amended Registration Statement states that the initial public offering price per ADS is estimated to be between $20.00 and $22.00. Following a proposed 300:1 share split Frontier IP would be entitled to 1,564,800 ADSs.
At this stage there can be no certainty on the IPO proceeding nor the terms or timing of the IPO.
Further announcements will be made by Frontier IP at the appropriate time.
Frontier IP Group Plc
T: 020 3968 7815
Neil Crabb, Chief Executive
Andrew Johnson, Communications & Investor Relations
Company website: www.frontierip.co.uk
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Allenby Capital Limited (Nominated Adviser)
Nick Athanas / George Payne
Singer Capital Markets (Broker)
Sandy Fraser / Harry Gooden / George Tzimas
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ABOUT FRONTIER IP
Frontier IP unites science and commerce by identifying strong intellectual property and accelerating its development through a range of commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.
The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.