Medical diagnostics tests manufacturer raises more than £5m
York-headquartered medical diagnostics tests producer, Abingdon Health, has released the results of a retail offer which has raised total gross proceeds of £5.665m.
Following the closing of the retail offer on the BookBuild Platform yesterday – 28 August – 4,107,668 ordinary shares will be issued at a price of 9.75 pence per retail offer share.
Consequently, 53,589,741 placing shares and 4,107,668 retail offer shares, resulting in a total of 57,697,409 new ordinary shares, have been issued (or in the case of the retail offer shares will be issued) in relation to the placing and retail offer.
Application has been made for the retail offer shares to be admitted to trading on AIM. Admission is expected to take place at 8am tomorrow. (30 August)
Chris Yates, CEO, said: “We are pleased to complete this offer to retail shareholders in addition to the Placing announced on 19 August 2024, both of which were done at a minor discount to the market price.
“The company is now well placed to continue its growth with the combined strength of Abingdon Health, CS (Life Sciences) Group and IVDeology giving a full service offering to our CRO and CDMO clients.
“In addition, the investments allow us to add additional Analytical Laboratory services and capacity and provides the company with additional product development resources.
“We appreciate the continued support of our current and new shareholders, and I look forward to updating on progress in due course.”
