18th Dec 2023 12:18
Incanthera PLC - develops technologies in dermatology and oncology - Raises GBP1.0 million in equity to support a deal that will see a major retailer stock Incanthera's 'Skin + Cell' range of skincare products. Raises GBP800,000 from the subscription to 11.4 million new shares at 7 pence each by new and existing institutional investors. At the same price, the University of Bradford converts GBP200,000 that is owed to it by Incanthera into 2.9 million new shares. The university, a founding shareholder in Incanthera, will own 11.2% of the enlarged share capital, with all the newly issued shares representing 15.5% of this. Incanthera also grants warrants to advisers to subscribe for another 800,000 new shares at the same price of 7p over the next 10 years. ImmuPharma PLC, which currently has a 12.7% stake in Incanthera, says it is "delighted" with the announcement of the skincare deal and successful fundraise. Read More