Institutional Equity Fundraise
Sareum raises £1.07 million through subscription of 8.56 million shares at 12.5 pence per share.
- Gross proceeds £1.07 million
- Number of new shares 8,560,000
- Subscription price per share 12.5 pence
- Discount to closing price approximately 24%
- Total ordinary shares after admission 133,487,651
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Cambridge, UK, 13th March 2025 - Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer, announces that it has conditionally raised gross proceeds of £1.07 million by means of a subscription (the "Subscription") for 8,560,000 new ordinary shares of 1.25 pence each in the capital of the Company ("Ordinary Shares") with an institution (the "Subscription Shares") at a price of 12.5 pence per new Ordinary Share (the "Subscription Price"). The net proceeds from the Subscription will be used to support the development of the expanded portfolio and for general working capital purposes.
The Subscription Price represents a discount of approximately 24% to the closing mid- market price for Sareum shares on 12th March 2025.
Admission and Total Voting Rights
The Company has applied for 8,560,000 Subscription Shares to be to be admitted to trading on AIM ("Admission") by 8.00 a.m. on or around 18th March 2025.
The Subscription Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares of the Company including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after Admission. Admission is conditional on all funds having been received from subscribers pursuant to the Subscription.
Following Admission, the total number of Ordinary Shares in issue will be 133,487,651 and the total number of voting rights will thereafter be 133,487,651 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Dr Stephen Parker, Executive Chairman of Sareum, commented: "We are delighted by the continued support and look forward to developing the portfolio, now including SRA737, as we look to build value for our shareholders."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.