IP Group to raise $123.3M

IP commercialization company IP Group plc (LSE:IPO) proposed to raise up to L75 million ($123.3 million) through the sale of 45.5 million shares at 165p in a placing and open offer underwritten by Numis. The price is an 8% discount to IP Group's close of 179.9p on Wednesday, before the deal was announced. IP Group manages and funds the commercialization of IP generated from its partnered research institutions in the U.K. The group has invested in sequencing company Oxford Nanopore Technologies Ltd. (Oxford, U.K.). ...