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.
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