13th Jul 2020 20:02
(Alliance News) - Diagnostics company Renalytix AI PLC on Monday said it is commencing an underwritten offering of 11.0 million of its shares.
The offer includes a registered public offering of shares in the form of American depositary shares in the US and a concurrent private placement of shares in Europe and other countries outside of the US.
In addition, Renalytix AI said it intends to grant the underwriters a 30-day option to purchase additional American depositary shares in an aggregate amount of up to 15% of the total number of American depositary shares proposed to be sold in the offering.
Investors other than qualified investors under applicable law will not be eligible to participate in the private placement, Renalytix AI noted.
Renalytix AI said it has applied to have its American depositary shares listed on the Nasdaq Global Market, while it said it will maintain its AIM listing alongside the Nasdaq dual-listing.
JP Morgan and Stifel are acting as joint global coordinators and joint book-running managers for the Global Offering.
Renalytix shares closed 2.1% higher in London on Monday at 581.70 pence each.
By Evelina Grecenko; [email protected]
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