Finance

Oxford BioDynamics brings in £9.9 million via fundraising

Published by
Giles Gwinnett

Oxford BioDynamics said it had raised gross proceeds of £9.9 million from a placing, which was carried out via an accelerated bookbuilding process.

The fundraising also comprised direct subscriptions and a retail offer via the PrimaryBid Platform, said the biotech firm, which is developing precision medicine tests based on the EpiSwitch 3D genomics platform.

READ MORE: Oxford BioDynamics expects revenues up 150 per cent for FY23

In total, around 89.2 million new company shares will be issued in the placing at 9p each.

Meanwhile, subscribers have conditionally subscribed for around 15.3 million new shares at the same price, while retail investors have subscribed for a total of around 4.9 million shares.

The placing shares, subscription shares and the PrimaryBid shares represent around 35.1% of the company's share capital as enlarged by the fundraising.

Shore Capital, Baden Hill and WG Partners acted as joint brokers and bookrunners in connection with the placing.

Giles Gwinnett

Giles Gwinnett is a writer at The Business Magazine. He has been a journalist for more than 20 years and covered a vast array of topics at a range of media settings - in print and online. After his NCTJ newspaper training, he became a reporter in Hampshire before moving to a news agency in Gloucestershire. In recent years, he has been covering the financial markets along with company news for an investor-focused web portal. His many interests include politics, energy and the environment. He lives in Dorset.

Recent Posts

Publisher Future plc sees in-line trading in first-half

Bath-based Future plc, the publisher of specialist online and print magazines, said trading in its…

3 days ago

IS-Instruments Ltd and Bristol university among six UKAEA contract winners

The university of Bristol was one of six organisations to receive a contract from the…

3 days ago

Oxford BioDynamics teams up with King's College in bid to boost rheumatoid arthritis prevention

Oxford BioDynamics Plc is teaming up with researchers at King's College London in a bid…

3 days ago

UK needs quarter of a million extra construction workers by 2028

More than a quarter of a million extra construction workers are needed in the UK…

3 days ago

Vistry makes good start to year, bolstered by partnership model

Kent-based housebuilder Vistry revealed it was on track to deliver more than 10% growth in…

3 days ago

Dorset start-up with green ambitions boosted by SWIG Finance loan

A Dorset-based company, which has developed ground-breaking technology to recycle plastic waste and turn it…

3 days ago