Tiziana Life Sciences PLC Issue of CLN (8951R)
01 Noviembre 2019 - 1:00AM
UK Regulatory
TIDMTILS
RNS Number : 8951R
Tiziana Life Sciences PLC
01 November 2019
Tiziana Life Sciences plc
("Tiziana" or the "Company")
Issue of convertible unsecured loan notes with warrants attached
to raise GBP1,434,000
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
New York/London, 1 November 2019 - Tiziana Life Sciences plc
(Nasdaq: TLSA / AIM: TILS), a biotechnology company focusing on the
discovery and development of innovative therapeutics for
inflammation and oncology indications, announces that it has raised
GBP1,434,000 of finance by way of the issue of convertible
unsecured loan notes (the "Loan Notes"), with warrants attached,
for working capital purposes.
The Company previously announced its intention to raise
additional equity share capital by way of an offering of its NASDAQ
listed ADSs in the US. However, the Directors decided that given
current market conditions, such an equity fundraise would be on
dilutive terms which would be punitive to existing shareholders
particularly in light of the recent positive news from the
Company's scientific programs. Accordingly, the Company has decided
to raise convertible debt finance from supportive existing
shareholders.
The Loan Notes are expected to be short term instruments and
carry a coupon of 16% per annum and are convertible (together with
all accrued interest) into ordinary shares of nominal value GBP0.03
each in the capital of the Company ("Ordinary Shares") at a
conversion price of 42p. The warrants issued in connection with the
Loan Notes entitle the holders to subscribe for one additional
share per conversion share at the same price of 42p. The warrants
may be exercised for a period of up to 5 years from their
issue.
The person who arranged for release of this announcement on
behalf of the Company was Tiziano Lazzaretti, Chief Financial
Officer of Tiziana.
About Tiziana Life Sciences
Tiziana Life Sciences plc is a UK biotechnology company that
focuses on the discovery and development of novel molecules to
treat human disease in oncology and immunology. In addition to
milciclib, the Company is also developing foralumab for liver
diseases. Foralumab is the only fully human anti-CD3 monoclonal
antibody known to the company in clinical development in the world.
This compound has potential application in a wide range of
autoimmune and inflammatory diseases, such as non-alcoholic
steatohepatitis (NASH), primary biliary cholangitis (PBS),
ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D),
inflammatory bowel disease (IBD), psoriasis and rheumatoid
arthritis, where modulation of a T-cell response is desirable.
For further enquiries:
Contact:
Tiziana Life Sciences plc
Gabriele Cerrone, Chairman and founder +44 (0)20 7495 2379
Cairn Financial Advisers LLP (Nominated adviser) +44 (0)20 7213 0883
Liam Murray / Jo Turner
Shore Capital (Broker) +44 (0)20 7408 4050
Antonio Bossi / Fiona Conroy
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END
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