10th May 2024 18:57
Celadon Pharmaceuticals PLC - London-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines - Raises GBP2.1 million via placing and subscription of 2.0 million shares at 105 pence each. Further, confirms it has extended the expiry date of its GBP7 million committed credit facility, entered into in May 2023, from May 30, 2025 to November 30, 2025, on the same terms as announced in 2023. Proceeds of the fundraise will provide additional working capital. With the fundraise and credit facility, Celadon says it has the working capital available that will be sufficient for its present requirements, that is for at least 12 months. As a result, it has decided not to pursue convertible loan notes financing.
Current stock price: 100 pence
12-month change: down 29%
By Jeremy Cutler, Alliance News reporter
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