Date: 2015-05-01
Type of information: Private placement
Company: Horizon Discovery (UK)
Investors:
Amount: £25 million
Funding type: private placement
Planned used: The net proceeds of the Placing receivable by Horizon Discovery will be used to accelerate the Company\'s growth strategy, in particular through investment in its leveraged services business, global infrastructure and research and development capabilities.
Others: * On May 1, 2015, Horizon Discovery, the international life science company supplying research tools and services that power genomics research and the development of personalised medicines, announced the results of the conditional Placing announced earlier. A total of 21,096,933 Placing Shares have been placed by J.P. Morgan and Panmure Gordon at a Placing Price of 190 pence per Ordinary Share for a total of approximately £40.1 million, consisting of 13,157,895 New Placing Shares placed by the Company and 7,939,038 Existing Placing Shares sold by certain Selling Shareholders. The New Placing Shares represent 16.4 per cent. of the Existing Ordinary Shares of the Company, raising gross proceeds of approximately £25.0 million (before fees and expenses) for the Company. Completion of the Placing remains subject, inter alia, to the passing of the Resolutions at the General Meeting being convened for 18 May 2015, and on the Admission of the New Placing Shares to trading on AIM. It is expected that Admission will take place at 8:00 a.m. on 20 May 2015 (at which time the Placing will become unconditional) and that dealings in the New Placing Shares on AIM will commence at the same time. * On May 1, 2015, Horizon Discovery announced a conditional non-pre-emptive placing of 13,157,895 New Placing Shares at a Placing Price of 190 pence per share to raise approximately £25.0 million before expenses. In addition, the Placing includes the proposed sale of a minimum of 5,263,157 Existing Placing Shares by certain Selling Shareholders at the Placing Price.
Therapeutic area: Technology - Services
