ARTICLE | Financial News

ReNeuron seeking $15M offering

April 4, 2012 12:40 AM UTC

ReNeuron Group plc (LSE:RENE) proposed to raise up to L9.4 million ($15 million) in a placing and open offer. The placing includes 134 million shares at 4p. Investors also will receive a warrant to purchase a share at 6p. The open offer comprises up to 99.7 million shares at 4p, with shareholders eligible to purchase four shares for every 25 held. Cenkos Securities is placement agent. The offering is subject to shareholder approval at the company's general meeting on April 20. ReNeuron was down 0.82p (16%) to 4.25p on Tuesday. ...