Biome Technologies plc (LON:BIOM) has announced a retail offer to shareholders in the Company only via REX of ordinary shares of 5 pence each in the capital of the Company at an issue price of 5 pence per new Ordinary Share.
In addition to the Retail Offer, earlier today the Company announced, amongst other things, a trading update, a subscription for new Ordinary Shares at the Issue Price to raise a total of approximately £950,000 before expenses and the conversion of certain of the existing convertible loan notes into 25,573,218 new Ordinary Shares at a conversion price equal to the Issue Price.
The Subscription will be undertaken in two tranches; (i) a firm subscription of 200,000 Subscription Shares to be undertaken alongside the conversion of certain of the Company’s existing convertible loan notes into the Conversion Shares, each to be issued and allotted pursuant to the Company’s existing authorities to issue and allot equity securities on a non-pre-emptive basis; and (ii) a conditional subscription for 18,800,000 Subscription Shares, conditional upon, amongst other things, the passing of certain resolutions at the general meeting proposed to be held at 11.00 a.m. on 4 September2024 at the offices of Osborne Clarke LLP at One London Wall, London EC2Y 5EB.
