Home Listing rules Roquefort Investments plans to place up to £ 3million to finance acquisition

Roquefort Investments plans to place up to £ 3million to finance acquisition

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By Joe Hoppe


Roquefort Investments PLC announced Thursday that it will place up to 3 million pounds ($ 4 million) of shares to fund the cash component of its acquisition of Lyramid Pty Ltd., as well as preclinical drug development and the working capital.

The medical biotech investment firm said it would place up to 30 million shares at 10p per share, a 20% discount on its shares on September 28, the last day its shares were traded.

Roquefort said the takeover was conditional on the successful completion of the placement and that he would seek shareholder approval for the fundraiser soon, adding that he planned to change his name to Roquefort Therapeutics PLC after the transaction. finished.

The company said it has entered into a sale and purchase agreement with Provelmare Holding SA after reaching a preliminary deal to buy Lyramid for £ 1million in a reverse takeover on September 29. The payment will be made half in cash and half in shares.

Lyramid has a global portfolio of patents for Midkine-based therapies, which provide a platform to develop drugs for the treatment of severe inflammatory diseases, autoimmune disorders and cancer.

The company’s shares were suspended at his request pending the reverse takeover, as required by listing rules.


Write to Joe Hoppe at [email protected]