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C4X Discovery to raise £15m through equity placing
StockMarketWire.com
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Drug discovery company C4X Discovery detailed plans to raise approximately £15.0 million through the placing of shares.
The fundraise would comprise an equity placing through a venture capital trust, or those investors seeking to claim EIS relief, and units, each comprising one placing share and one warrant, to be offered to those investors who are neither VCTs nor seeking EIS relief.
The shares would be placed at a price of 14.0p a share, raising approximately £15.0 million before expenses.
The proceeds of the placing would be used to 'strengthen the company's balance sheet as partnering discussions and strategic collaborations progress and to advance the core investment portfolio...' the company said.
At 9:35am: (LON:C4XD) C4x Discovery Holdings Plc share price was -0.25p at 15.5p
Story provided by StockMarketWire.com
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