BioCentury
ARTICLE | Financial News

Minster raising L17 million

March 3, 2007 1:12 AM UTC

Neurology company Minster (LSE:MPM) plans to raise L17 million ($33.4 million) through a subscription and placing of 26.2 million shares at 65p. The deal price is equivalent to 1.3p per share prior to a proposed share consolidation of one new share for every 50 existing shares. Care Capital and Rho Capital have agreed to subscribe for 16.9 million shares, while new and existing investors, including MDY Healthcare, are expected to participate in a placing of 9.2 million shares underwritten by Nomura Code. Investors also will receive a five-year warrant for every four new shares exercisable at 65p. ...