7th Dec 2015 09:04
LONDON (Alliance News) - OptiBiotix Health PLC said Monday that it has raised GBP1.5 million through a placing of 2 million shares at a price of 75 pence each.
Shares in OptiBiotix were down 2.1% at 76.84 pence Monday morning
"Whilst the company has sufficient funds to commercialise existing platforms the high level of investor and partner interest has created an opportunity to raise additional funds to consolidate our leading position in the microbiome space. These new funds will allow the company to increase its in house development capability, accelerate the commercialisation of existing products, extend our technology platforms into new application areas, and expand our product pipeline," said Chief Executive Officer Stephen O'Hara in a statement.
O'Hara bought 53,333 shares in the placing, taking his total holding to 10.1 million shares or a 13.3% stake in the company. Executive Chairman Adam Reynolds and Co-Chairman David Evans bought 1.0 million and 3.5 million shares in the placing respectively. This left Reynolds with 1.1 million shares in the company or a 1.4% stake, and Evans with 3.5 million shares and a 4.6% stake.
Commercial Director Jim Laird also bought his first stake in the company in the placing, buying 13.3 million shares, resulting in a less than 1.0% stake in OptiBiotix.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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