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Allergy Therapeutics PLC - Sussex-based biotechnology company specialising in allergy vaccines - Shares rise as firm enters amendment to the facility agreement it reached in early April with SkyGem Acquisition Ltd and Southern Fox Investments Ltd. Deal provides Allergy Therapeutics with a £40 million secured loan facility of which £32.5 million is uncommitted. Facility is available to drawdown between January 15 and the same day in 2026, with interest payable semi-annually at 12% per year and a January 15, 2027 repayment date. Allergy Therapeutics also agrees to issue warrants to SkyGem and Southern Fox following each drawdown, entitling them to subscribe for new shares at 4 pence each. Lenders will be entitled to 25 warrants for each £1 drawn down under the amended facility. Company will issue a maximum of 1.00 billion warrants, which will be exercisable in whole or in part from July 1 until January 15, 2027. Current stock price: 2.40 pence, up 9.1% on Wednesday 12-month change: down 54% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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