|
Shares in Advanced Oncotherapy PLC jumped on Friday following its announcement of a £1.5 million equity fundraise.
Shares in the London-based provider of proton therapy for cancer treatment were up 6.0% to 22.00 pence each in London on Friday morning.
The fundraise will be conducted through a direct subscription of 5.9 million new shares at a price of 25p each. The issue price represents a 16% premium to its closing share price of 21.49p on Thursday, being the last business day before the announcement.
Advanced Oncotherapy explained that the subscription will help accommodate demand from investors who were unable to participate in the fundraises announced in June and earlier this month.
In total, the company has raised £6.6 million from the two previous subscriptions.
‘The net proceeds of the subscription will be used for general corporate purposes as the company progresses towards having a fully operational LIGHT system operating at 230 million electron volts by the end of summer 2022,’ Advanced Oncotherapy added.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
