NetScientific PLC PDS Biotechnology Corp liquidity funding program (3428H)
31 Julho 2019 - 4:41AM
UK Regulatory
TIDMNSCI
RNS Number : 3428H
NetScientific PLC
31 July 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014
NetScientific plc
("NetScientific" or the "Company")
PDS Biotechnology Corporation liquidity funding program
NetScientific plc (AIM:NSCI), the transatlantic healthcare IP
commercialisation group, announces that its portfolio company PDS
Biotechnology Corporation ("PDS") (Nasdaq:PDSB) has announced a
liquidity funding program with Aspire Capital Fund, LLC ("Aspire"),
an Illinois limited liability company, which has committed to
purchase up to an aggregate of $20.0 million of shares of PDS
common stock over the 30-month term of the Purchase Agreement dated
29 July 2019.
The liquidity funding program broadly provides that, on any
trading day on which the price per share of PDS common stock
exceeds US$0.50, selected by PDS at it sole discretion, that PDS
can present Aspire with a purchase notice directing Aspire to
purchase up to 100,000 shares of PDS' common stock per business day
(i) up to $20.0 million of the PDS' common stock in aggregate and
(ii) provided that Aspire's aggregate interest in PDS does not
exceed 19.99% of PDS' issued common stock.
Such purchases shall be carried out at a per share price equal
to the lesser of the lowest sale price of the PDS' common stock on
the purchase date; or the arithmetic average of the three lowest
closing sale prices for PDS' common stock during the ten
consecutive trading days ending on the trading day immediately
preceding the purchase date.
Any proceeds PDS receives are expected to be used for working
capital and general corporate purposes.
NetScientific holds 8.15% of PDS on a fully diluted basis.
The full details of the program can be found here:
http://investors.pdsbiotech.com/financial-information/sec-filings
For more information, please contact:
NetScientific Tel: +44 (0)20 3514 1800
Ian Postlethwaite, CEO / CFO
WHIreland (NOMAD, Financial Adviser Tel: +44 (0)20 7220 1666
and Broker)
Chris Fielding / Jessica Cave
MO PR ADVISORY (Press Contact) Tel: +44 (0)78 7644 4977
Mo Noonan
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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