23
May 2024
Polarean Imaging
plc
("Polarean" or the "Company")
Posting of
Circular
Polarean Imaging plc (AIM: POLX), a
commercial-stage medical device leader in advanced Magnetic
Resonance Imaging ("MRI") of lung function, is pleased to confirm
that, further to its announcement on 22 May 2024 of the successful
Placing and Subscription to raise US$10 million (£8 million), the
circular setting out, amongst other things, details of the Open
Offer (the "Circular") has been posted today.
The Open Offer is for up to
approximately 200 million New
Ordinary Shares at 1 pence per New Ordinary Share to raise up to £2
million (US$2.5 million), which will provide Qualifying
Shareholders with the opportunity to subscribe for New Ordinary
Shares on the basis of:
9 Open Offer
Shares for every 10 Existing Ordinary Shares held on the Record
Date, at a price of 1 pence per Open Offer share
Further details of the Open Offer and the terms
and conditions on which it is being made, including the procedure
for application and payment, will be contained in the Circular,
extracts of which were contained in the announcement on 21 May 2024
and which is expected to be posted to Shareholders later today. The
Circular will also be available on the Company's website later
today:
https://www.polarean-ir.com/content/investors/shareholder-information.
Capitalised terms used but not otherwise
defined in the text of this announcement shall have the meaning
given to them in the Company's announcement on 21 May
2024.
Enquiries:
|
Polarean Imaging
plc
|
www.polarean.com / www.polarean-ir.com
|
|
Christopher von Jako, PhD, Chief
Executive Officer
Charles Osborne, Chief Financial
Officer
|
Via Walbrook
PR
|
|
Stifel Nicolaus Europe Limited (NOMAD and Sole Corporate
Broker)
|
+44 (0)20
7710 7600
|
|
Nicholas Moore / Samira Essebiyea /
Kate Hanshaw (Healthcare Investment Banking)
|
|
|
Nick Harland / Ben Good (Corporate
Broking)
|
|
|
Walbrook PR
|
Tel: +44
(0)20 7933 8780 or polarean@walbrookpr.com
|
|
Anna Dunphy / Phillip
Marriage
|
Mob: +44 (0)7876 741 001 /
+44 (0)7867 984 082
|
|
|
|
| |
About Polarean
Polarean is a revenue-generating medical
imaging technology company revolutionizing pulmonary medicine
through direct visualization of lung function by introducing the
power and safety of MRI to the respiratory healthcare community.
This community is in desperate need of modern solutions to
accurately assess lung function. The Company strives to optimize
lung health and prevent avoidable loss by illuminating hidden
disease, addressing the global unmet medical needs of more than 500
million patients worldwide suffering from chronic respiratory
disease. Polarean is a leader in the field of hyperpolarization
science and has successfully developed the first and only
hyperpolarized Xenon MRI inhaled contrast agent, XENOVIEW™, which
is now FDA-approved in the United States. Polarean is dedicated to
researching, developing, and commercialising innovative imaging
solutions with its non-invasive and radiation-free pulmonary
functional MRI platform. This comprehensive drug-device platform
encompasses the proprietary Xenon gas blend, gas hyperpolarization
system, as well as software and accessories, facilitating fully
integrated modern respiratory imaging operations. Founded in 2012,
with offices in Durham, NC, and London, United Kingdom, Polarean is
committed to increasing global awareness of and broad access to its
XENOVIEW MRI technology platform. For the latest news and
information about Polarean, please visit www.polarean.com.