- Ondine Biomedical Inc. NPV (CDI)
- 27 January 2025 15:44:51
Source: Sharecast
The AIM-traded company said the investment would see it issue 38,033,412 new shares at a price of 10.517 US cents each, representing around 8.6% of its enlarged share capital.
It said the new shares would be admitted to trading on AIM on 29 January, and would rank equally with existing shares.
The proceeds from the investment would support Ondine’s strategic initiatives, with the company expecting the additional funds to extend its cash runway into early in the fourth quarter of 2025.
It said the capital would be used to advance key projects aimed at delivering long-term value.
Following admission of the new shares, Ondine said its issued and fully-paid share capital would consist of 442,038,143 common shares, all carrying one voting right each.
The total number of voting rights in the company would also stand at 442,038,143, with no shares held in treasury.
Ondine also reiterated that the settlement of a previously-announced private placing agreement with a Canadian private investor, initially agreed in September, remained delayed due to personal circumstances affecting the investor.
The company said it was optimistic about completing that placement, adding that it would provide further updates as they became available.
At 1402 GMT, shares in Ondine Biomedical were down 4.58% at 12.17p.
Reporting by Josh White for Sharecast.com.
