Midatech Pharma Plc Enters Into An Agreement For The Purchase In A Registered Direct Offering

  • Oct 23, 2019 BST
  • Team Kalkine
  • Midatech Pharma Plc (MTPH) has entered into a definitive binding agreement with an institutional investor for the purchase in a registered direct offering of 3 million of its ADSs (American Depositary Shares).
  • Each ADS is equivalent to 20 of the Company's ordinary shares and the purchase price is of USD1.00 per ADS, for aggregate gross proceeds of USD3.0 million. The offering is expected to close on or about 25 October 2019
  • The company also agreed to issue to the Investor unregistered warrants to purchase up to 3 million ADSs.
  • On 23rd October 2019, at the time of writing, GMT 09:38 AM, MTPH shares were trading at GBX 4.90, down by 0.70 points or 12.50 per cent against the previous day closing price.

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