Scancell raises £6.2m in placing and open offer

Scancell revealed the final results of its placing and open offer on Monday, with a few more subscriptions received since the firm’s last update on 1 April.

The AIM-traded company had announced on Friday that it had received subscriptions for 16,048,593 new ordinary shares of the 22,495.068 available under the open offer.

Monday’s announcement said it had now received applications for an additional 558,823 new ordinary shares available, but not subscribed for by, qualifying shareholders under the open offer, taking the revised total subscription to 16,607,416 new ordinary shares, or 73.8% of those available.

“The company has therefore raised gross proceeds of approximately £2.8m through the open offer and £3.4m through the placing, being approximately £6.2m in total,” Scancell’s board said in a statement.

Scancell said application was to be made for the 36,607,416 new shares to be admitted to trading on AIM, which was expected to occur at 0800 BST on 5 April.

The board said the total number of ordinary shares following admission would be 261,558,099.