4basebio Plc - £40.0m Equity Issuance and £29.4m Secondary Sale
This Announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation No. 596/2014 as retained as part of
Net proceeds from the Issuance will be used to support and expand the Company's operations; including building out business development and commercial functions, enhancing the Company's infrastructure, driving continued innovation in new DNA modalities and supporting geographical expansion, in addition to working capital.
The shares to be issued pursuant to the Issuance (the "Issuance Shares") will represent approximately 20.8 per cent. of the existing issued ordinary share capital of the Company and 17.2 per cent. of the enlarged issued ordinary share capital of the Company following completion of the Issuance (on the basis of the Company's issued share capital as at the date of this announcement). The Issue Price represents a premium of approximately 3.4 per cent. to the closing price of
In addition, Elevage and M&G have between them agreed to purchase 1,959,424 ordinary shares from entities belonging to the
The Issuance, which is interconditional with the Secondary Sale, is conditional upon any necessary clearance under the National Security and Investment Act 2021 and merger control approval and completion of final documentation. Subject to these conditions, the Issuance and Secondary Sale are expected to become unconditional following receipt of regulatory approvals, later in 2024. A further update on this will be made in due course. The New Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares.
As a result of certain directors (being
Dr
"The capital raise announced today will further drive the momentum of the Company, and I am pleased to see Elevage and M&G join our shareholder register."
M&G Portfolio Manager,
"We are delighted to partner with Elevage in supporting 4basebio's pioneering work in synthetic DNA, which underpins the development of cell and gene therapies and offers the potential to transform healthcare and save millions of lives. We look forward to being part of their exciting journey and contributing to the advancement of cutting-edge therapies."
Enquiries
4basebio PLC +44 (0)12 2396 7943
Elevage Medical Technologies
Sole Placement Agent
RBC Capital Markets +44 (0)20 7653 4000
Nominated Adviser
Cairn Financial Advisers LLP +44 (0)20 7213 0880
Broker
Cavendish Capital Markets Limited +44 (0)20 7220 0500
Notes to Editors
About 4basebio
4basebio (AIM: 4BB) is an innovation driven life biotechnology company focused on accelerating the development of advanced therapy medicinal products (ATMPs) through its high-performance synthetic DNA products and non-viral, cell targeting nucleic acid delivery platform. The Company's objective is to become a market leader in the manufacture and supply of high-quality synthetic DNA products for research, therapeutic and pharmacological use as well as development of target specific non-viral vectors for the efficient delivery of payloads in patients.
About Elevage Medical Technologies
Elevage Medical Technologies is a platform established by
About M&G Investments
The capital for this deal has been provided by M&G's Crossover strategy (Crossover) on behalf of the £129 billion Prudential With
M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc's
M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for
Forward-looking statements
This Announcement may contain certain statements about the future outlook for 4basebio. Although the directors believe their expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.
Additional information
RBC is acting as sole placement agent to the Company in connection with the Transaction and will not regard any other person as a client in relation to the Transaction. RBC will not be responsible to any other person for providing the protections afforded to its clients or for advising any person in relation to the Transaction or any arrangement referred to in this document.
This Announcement is made for information purposes only and does not constitute an offer to sell or issue or solicitation to buy, subscribe for or otherwise acquire shares in
The securities discussed herein are not and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in