Midatech Pharma Shares Rise on Revised Placement Terms, Intention to Remain on AIM

Dow Jones2022-12-19

By Anthony O. Goriainoff

Shares in Midatech Pharma PLC rose Monday after the company said it had agreed to revise the terms of a private placement, and that it no longer intends to cancel its AIM listing.

Shares at 0923 GMT were up 0.65 pence, or 31%, at 2.75 pence.

The drug-delivery technology company--which is listed in the U.K. and U.S.--said it intends to raise $9.6 million via a private placement which entails providing funds to the company via warrants.

Midatech said it has agreed to increase the exercise price of both A and B warrants to $1.10. The company said the purchase price of the private placement will be the lower of $1--the previously agreed purchase price--and "the 20-day volume weighted average price on the last business day prior to completion less 10%." It added that if this volume weighted price was less than 90 cents it might terminate the private placement without penalty.

The placement is intended to repay some of Bioasis Technologies Inc.'s debt--which the company said Tuesday it will buy--and for working capital to support the enlarged group's business plan.

On Dec. 13 the company said it would cancel its trading on London's junior AIM upon completion of the 4.4 million pounds ($5.3 million) Bioasis purchase.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

December 19, 2022 04:24 ET (09:24 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2292382634?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-12-19 17:24","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2292382634","market":"hk","top_or_hot":-1,"title":"Midatech Pharma Shares Rise on Revised Placement Terms, Intention to Remain on AIM","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Anthony O. Goriainoff \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares in <a href=\"https://laohu8.com/S/MTP\">Midatech Pharma PLC</a> rose Monday after the company said it had agreed to revise the terms of a private placement, and that it no longer intends to cancel its AIM listing. \n</p>\n<p>\n  Shares at 0923 GMT were up 0.65 pence, or 31%, at 2.75 pence. \n</p>\n<p>\n  The drug-delivery technology company--which is listed in the U.K. and U.S.--said it intends to raise $9.6 million via a private placement which entails providing funds to the company via warrants. \n</p>\n<p>\n  Midatech said it has agreed to increase the exercise price of both A and B warrants to $1.10. The company said the purchase price of the private placement will be the lower of $1--the previously agreed purchase price--and \"the 20-day volume weighted average price on the last business day prior to completion less 10%.\" It added that if this volume weighted price was less than 90 cents it might terminate the private placement without penalty. \n</p>\n<p>\n  The placement is intended to repay some of Bioasis Technologies Inc.'s debt--which the company said Tuesday it will buy--and for working capital to support the enlarged group's business plan. \n</p>\n<p>\n  On Dec. 13 the company said it would cancel its trading on London's junior AIM upon completion of the 4.4 million pounds ($5.3 million) Bioasis purchase. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 19, 2022 04:24 ET (09:24 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Midatech Pharma Shares Rise on Revised Placement Terms, Intention to Remain on AIM</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMidatech Pharma Shares Rise on Revised Placement Terms, Intention to Remain on AIM\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-19 17:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Anthony O. Goriainoff \n\n\n \n\n\n  Shares in Midatech Pharma PLC rose Monday after the company said it had agreed to revise the terms of a private placement, and that it no longer intends to cancel its...</p>\n\n<a href=\"http://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2292382634","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2292382634","pubTimestamp":1671441840,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"By Anthony O. Goriainoff \n\n\n \n\n\n  Shares in Midatech Pharma PLC rose Monday after the company said i","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","AIM":"AIM ImmunoTech Inc","BK4557":"大麻股"},"translate_title":"Midatech Pharma股价因配售条款修订而上涨，有意保持在AIM","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AIM":1,"MTP":0.9},"content_text":"By Anthony O. Goriainoff \n\n\n \n\n\n  Shares in Midatech Pharma PLC rose Monday after the company said it had agreed to revise the terms of a private placement, and that it no longer intends to cancel its AIM listing. \n\n\n  Shares at 0923 GMT were up 0.65 pence, or 31%, at 2.75 pence. \n\n\n  The drug-delivery technology company--which is listed in the U.K. and U.S.--said it intends to raise $9.6 million via a private placement which entails providing funds to the company via warrants. \n\n\n  Midatech said it has agreed to increase the exercise price of both A and B warrants to $1.10. The company said the purchase price of the private placement will be the lower of $1--the previously agreed purchase price--and \"the 20-day volume weighted average price on the last business day prior to completion less 10%.\" It added that if this volume weighted price was less than 90 cents it might terminate the private placement without penalty. \n\n\n  The placement is intended to repay some of Bioasis Technologies Inc.'s debt--which the company said Tuesday it will buy--and for working capital to support the enlarged group's business plan. \n\n\n  On Dec. 13 the company said it would cancel its trading on London's junior AIM upon completion of the 4.4 million pounds ($5.3 million) Bioasis purchase. \n\n\n \n\n\n  Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 19, 2022 04:24 ET (09:24 GMT)\n\n\n  Copyright (c) 2022 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2292382634"}