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Quantum Pharma Plc

Quantum Pharma plc “Proposed Accelerated Bookbuild” to raise up to £15 million via Zeus Capital

Quantum Pharma plc (AIM: QP.) announced this morning a proposed fundraising up to £15 million, by way of the conditional placing of up to 44,117,647 Placing Shares at a price of 34 pence per share with existing and new institutional investors.  If approved by Shareholders the Placing Shares to be issued pursuant to the proposed Placing will represent approximately 26.09 per cent. of the Enlarged Issued Share Capital of the Company.  The Placing Shares will rank pari passuin all other respects with the Company’s Existing Ordinary Shares.

 

The Placing Shares are being offered by way of an accelerated bookbuild, which will be launched immediately following this announcement.  Zeus Capital and N+1 Singer will be acting as joint bookrunners in connection with the Bookbuild.

 

It is expected that the finalisation of the proposed Placing will commence immediately following this announcement and a further announcement will be made to confirm its completion in due course.

 

The proposed Placing is subject to the passing of certain resolutions for which Shareholder approval will be sought at the General Meeting of the Company, which is expected to be convened shortly by the posting to Shareholders of a circular containing notice of the meeting.

As stated in the interim results announcement of 4 October 2016, the Board considers that a lower level of net debt would provide greater operational freedom to grow the core specials business and create further value in the niche pharmaceuticals pipeline, with a focus on unlicensed to licensed development.

 

Additional information on the Placing is included below.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (“MAR”). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR.  This inside information is set out in this Announcement.  Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.