Accelerated Bookbuild for the Issue of Equity

10th March 2017 - 4:57 pm

ImmuPharma PLC (LSE:IMM), the specialist drug discovery and development company, is pleased to announce a proposed placing, raising a minimum of £3 million (before expenses), via the issue of new ordinary shares of 10p each (“Ordinary Shares”) to new and existing investors (the “New Share Placing”).
The New Share Placing will provide ImmuPharma with additional working capital and will further strengthen the Company’s balance sheet as negotiations continue with potential partners for Lupuzor™, its lead programme currently in a pivotal Phase III trial. Additionally, further investment in ImmuPharma’s earlier stage portfolio and in its P140 peptide platform is also planned.
The New Share Placing is being offered by way of an accelerated bookbuild (“Bookbuild”), which will be launched immediately following this announcement. It is proposed that the New Share Placing will be executed at a price of 52p per share (the “Placing Price”). Northland Capital Partners Limited will be acting as sole bookrunner in connection with the Bookbuild.
It is expected that the finalisation of the Bookbuild will commence shortly after the Bookbuild’s launch is announced and a further announcement will be made to confirm its completion in due course.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (“MAR”). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this Announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.

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