2nd Jun 2023 19:37
Advanced Oncotherapy PLC - London-based particle therapy for cancer treatment company - Announces it has received a conversion notice for a portion of the convertible notes, which were issued to a French counterparty, as announced March 1 into new shares in the company. Says 10 convertible notes have been converted worth GBP50,000 at a conversion price of GBP0.25. Company also pays GBP56,702 conversion fee as the conversion price is below the nominal value of the shares. States this will be settled through the issuance of 756,020 new shares. Further, says in talks to raise further funding under the secured loan note agreement as well as through other non-dilutive financing options and is hopeful of securing additional financing during June 2023. Optimistic of a satisfactory outcome on the financing options being explored. In addition, company says it has issued convertible notes totalling GBP34,600 under its secured convertible loan note agreement.
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By Jeremy Cutler, Alliance News reporter
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