NetScientific PLC PDS Announces Closing of $19m Offering (1956W)
14 August 2020 - 7:48PM
UK Regulatory
TIDMNSCI
RNS Number : 1956W
NetScientific PLC
14 August 2020
NetScientific plc
("NetScientific" or the "Company")
PDS Biotechnology Corporation Announces Closing of Approx. $19
Million Public Offering and Full Exercise of Underwriter's Option
to Purchase Additional Shares
NetScientific plc (AIM:NSCI), the transatlantic healthcare IP
commercialisation group, announces that its portfolio company PDS
Biotechnology Corporation ("PDS") (Nasdaq: PDSB) yesterday
announced the closing of its previously announced underwritten
public offering of 6,900,000 shares of common stock (inclusive of
the 900,000 shares that were sold pursuant to the underwriter's
full exercise of its option to purchase additional shares of common
stock) at a public offering price of $2.75 per share.
The gross proceeds to PDS from this offering, before deducting
underwriting discounts, commissions and other offering expenses
were approximately $19.0 million.
NetScientific confirms that it has subscribed GBP0.5 million for
236,000 shares of common stock. Pending receipt of funds from
NetScientific's agreed placement which is expected at the end of
August, the short term finance has been covered by drawing down
GBP0.4 million under the loan facility agreement dated 9 April 2020
with the AB Group Limited and the rest coming from existing
resources.
NetScientific holds approximately 5.75% of PDS' undiluted share
capital post the offering.
The full details of the announcement are set out below and can
be found he re:
https://www.pdsbiotech.com/investors/news-center/press-releases/press-releases1/56-2020-news/413-iotechnologyorporationnnounceslosingofpprox20200813
# # #
PDS Biotechnology Corporation Announces Closing of Approx. $19
Million Public Offering and Full Exercise of Underwriter's Option
to Purchase Additional Shares
FLORHAM PARK, N.J., Aug. 13, 2020 (GLOBE NEWSWIRE) -- PDS
Biotechnology Corporation (Nasdaq: PDSB) ("PDS Biotechnology" or
the "Company"), a clinical-stage immunotherapy company developing
novel cancer therapies and infectious disease vaccines based on the
Company's proprietary Versamune(R) T-cell activating technology,
today announced the closing of its previously announced
underwritten public offering of 6,900,000 shares of common stock
(inclusive of the 900,000 shares that were sold pursuant to the
underwriter's full exercise of its option to purchase additional
shares of common stock) at a public offering price of $2.75 per
share. Certain insiders, including certain of the Company's
officers, purchased shares of PDS Biotechnology common stock in the
offering.
The gross proceeds to PDS Biotechnology from this offering,
before deducting underwriting discounts, commissions and other
offering expenses were approximately $19.0 million.
Oppenheimer & Co. Inc. acted as the sole book-running
manager for the offering.
The shares of common stock described above were offered by the
Company pursuant to a registration statement on Form S-3 (File No.
333-240011) previously filed with the U.S. Securities and Exchange
Commission ("SEC") on July 22, 2020 and declared effective on July
31, 2020, and the accompanying prospectus contained therein. The
offering of the shares of common stock was made by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement. A final prospectus supplement
related to the offering has been filed with the SEC and is
available on the SEC's website, located at http://www.sec.gov .
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may also be obtained by
contacting Oppenheimer & Co. Inc. at 85 Broad Street, 26th
Floor, New York, NY 10004, Attention: Equity Syndicate Prospectus
Department, by telephone at (212) 667-8055, or by email at
EquityProspectus@opco.com .
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About PDS Biotechnology
PDS Biotechnology is a clinical-stage immunotherapy company with
a growing pipeline of cancer immunotherapies and infectious disease
vaccines based on the Company's proprietary Versamune(R) T-cell
activating technology platform. Versamune(R) effectively delivers
disease-specific antigens for in vivo uptake and processing, while
also activating the critical type 1 interferon immunological
pathway, resulting in production of potent disease-specific killer
T-cells as well as neutralizing antibodies. PDS Biotechnology has
engineered multiple therapies, based on combinations of
Versamune(R) and disease-specific antigens, designed to train the
immune system to better recognize disease cells and effectively
attack and destroy them.
# # #
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
For more information, please contact:
NetScientific
Ilian Iliev, CEO Tel: +44 (0)20 3514 1800
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel Tel: +44 (0)20 7220 1666
MO PR ADVISORY (Press Contact)
Mo Noonan Tel: +44 (0)78 7644 4977
About NetScientific
NetScientific PLC is a transatlantic healthcare IP
commercialisation Group focused on technologies and companies that
have the potential to treat chronic disease and significantly
improve the health and well-being of people.
For more information, please visit the website at www.NetScientific.net
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END
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