Oxford BioDynamics PLC has announced a conditional offer for subscription of new Ordinary Shares via PrimaryBid. The Issue Price for the new Ordinary Shares is 9 pence per new Ordinary Share, representing a discount of approximately 21 per cent to the closing price of the Company's existing Ordinary Shares on 12 March 2024. Investors can access the PrimaryBid Offer through PrimaryBid's website and app, as well as through its network of retail brokers, wealth managers, and investment platforms. The offer is available to both existing shareholders and new investors, with a minimum subscription of £250 per investor.
The PrimaryBid Offer is part of the Company's fundraising, which includes a Placing and direct subscriptions for new Ordinary Shares. The PrimaryBid Offer is conditional on the approval by the shareholders of the Company at a General Meeting to be held on 3 April 2024 and the new Ordinary Shares being admitted to trading on AIM. The funds raised will be used for working capital to support the Company's ongoing commercial development, including investment in marketing, business development, sales & market access activity, operation of clinical, research and reference laboratory facilities worldwide, and pursuit of partnering/out-licensing opportunities for its pipeline assets.
The Company values its retail investor base and is providing retail investors with the opportunity to participate in the PrimaryBid Offer, alongside the non-pre-emptive Placing. Existing shareholders and new investors can access the PrimaryBid Offer through PrimaryBid's website and app.