Motif Bio files shelf registration in the US
MOTIF BIO SP ADS
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15:55 04/10/24
Clinical-stage biopharmaceutical company Motif Bio announced on Friday that it has filed a ‘universal’ shelf registration statement on Form F-3 with the US Securities and Exchange Commission.
The AIM-traded firm said the filing of a shelf registration statement - a common practice by NASDAQ-listed companies - was intended to provide the company with more timely and efficient access to the US capital markets.
“Once declared effective by the SEC, the shelf registration, which can remain effective for up to three years, will enable the company to offer, issue and sell, in one or more offerings at any time - as long as the shelf registration statement remains effective - up to an aggregate of $80m of ordinary shares, including American Depositary Shares, preference shares, warrants, subscription rights, debt securities and a combination of such securities, separately or as units,” the Motif Bio board explained in its statement.
“The company currently has no specific plans to issue securities under this shelf registration.”
It said the specifics of any future offering, including the prices and terms of any securities offered by the company, would be determined at the time of any such offering and would be described in detail in a prospectus supplement filed in connection with such offering.