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Angle to raise up to £20m through discounted equity placing to fund ongoing operations, expansion
StockMarketWire.com
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Liquid biopsy company Angle detailed plans for a conditional equity placing to raise gross proceeds of up to £20 million.
The company proposed to place 43,478,261 shares at a price of 46 pence per share, representing a discount of approximately 5.15% to the closing mid-market price of 48.5 pence on 26 October 2020.
The company said it would use the £7 million of the proceeds for ongoing operations, £5m to establishing clinical laboratories for pharma services and laboratory developed test, £5m for the parsortix assay development and clinical studies, and £6m for commercial expansion including reimbursement, sales and partnerships.
At 9:58am: (LON:AGL) Angle PLC share price was +1.3p at 49.8p
Story provided by StockMarketWire.com
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