ARTICLE | Financial News

Oxford BioMedica planning offering

December 14, 2010 1:45 AM UTC

Oxford BioMedica plc (LSE:OXB) plans to raise up to L20 million ($31.5 million) through the sale of up to 278.9 million shares in a placing and up to 121.1 million shares in a placing and open offer at 5p. The price is a 38% discount to Oxford BioMedica's close of 8p on Friday, the last trading day before the deal was announced. Shareholders are eligible to purchase two new shares in the open offer for every nine shares held. Singer Capital Markets is advisor, sponsor and broker for the offerings. Oxford BioMedica was down 1p (13%) to 7p on Monday. ...