TIDMNSCI
RNS Number : 8135V
NetScientific PLC
11 August 2020
NetScientific plc
("NetScientific" or the "Company")
PDS Biotechnology Corporation Announces Proposed Public Offering
of Common Stock
NetScientific plc (AIM:NSCI), the transatlantic healthcare IP
commercialisation group, announces that its portfolio company PDS
Biotechnology Corporation ("PDS") (Nasdaq: PDSB) yesterday
announced that it intends to offer and sell shares of its common
stock in an underwritten public offering. All of the shares in the
offering are to be issued by PDS. PDS intends to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the shares sold in the offering to cover over-allotments, if any.
The offering is subject to market and other conditions, and there
can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
PDS intends to use the proceeds from this offering to fund
working capital and general corporate purposes.
Oppenheimer & Co. Inc. is acting as the sole book-running
manager for the offering.
NetScientific intends to invest GBP0.5 million in the PDS
offering, which has been financed by drawing down GBP0.4 million
under the loan facility agreement dated 9 April 2020 with the AB
Group Limited and as to the balance from the Company's existing
resources. AB Group Limited is associated with M A Lawson, who is
interested in 29.98% of NetScientific's issued share capital.
A further announcement will be made as soon as appropriate.
NetScientific holds 7.18% of PDS's undiluted share capital.
The full details of the announcement are set out below and can
be found he re:
https://www.pdsbiotech.com/investors/news-center/press-releases/press-releases1/56-2020-news/410-iotechnologyorporationnnouncesroposedublicff20200810
# # #
PDS Biotechnology Corporation Announces Proposed Public Offering
of Common Stock
FLORHAM PARK, N.J., Aug. 10, 2020 (GLOBE NEWSWIRE) -- PDS
Biotechnology Corporation ("PDS Biotech" or the "Company") (Nasdaq:
PDSB), a clinical-stage immunotherapy company developing novel
cancer therapies and infectious disease vaccines based on the
Company's proprietary Versamune(R) T-cell activating technology,
today announced that it intends to offer and sell shares of its
common stock in an underwritten public offering. All of the shares
in the offering are to be sold by PDS Biotech. PDS Biotech intends
to grant the underwriters a 30-day option to purchase up to an
additional 15% of the shares sold in the offering to cover
over-allotments, if any. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
PDS Biotech intends to use the proceeds from this offering to
fund working capital and general corporate purposes.
Oppenheimer & Co. Inc. is acting as the sole book-running
manager for the offering.
This offering by PDS Biotech is being made pursuant to an
effective registration statement on Form S-3 (File No. 333-240011)
previously filed with the U.S. Securities and Exchange Commission
("SEC") on July 22, 2020 and declared effective on July 31, 2020,
and the accompanying prospectus contained therein. The offering of
the shares of common stock will be made by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. A preliminary prospectus supplement and the
accompanying prospectus relating to and describing the terms of the
offering will be filed with the SEC, and will be available on the
SEC's website at http://www.sec.gov or by contacting Oppenheimer
& Co. Inc. at 85 Broad Street, 26th Floor, New York, NY 10004,
Attention: Equity Syndicate Prospectus Department, by telephone at
(212) 667-8055, or by email at EquityProspectus@opco.com .
Before investing in this offering, you should read in their
entirety the preliminary prospectus supplement and the accompanying
prospectus and the other documents that PDS Biotech has filed with
the SEC that are incorporated by reference in the preliminary
prospectus supplement and the accompanying prospectus, which
provide more information about PDS Biotech and such offering.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About PDS Biotechnology
PDS Biotech is a clinical-stage immunotherapy company with a
growing pipeline of cancer immunotherapies and infectious disease
vaccines based on the Company's proprietary Versamune(R) T-cell
activating technology platform. Versamune(R) effectively delivers
disease-specific antigens for in vivo uptake and processing, while
also activating the critical type 1 interferon immunological
pathway, resulting in production of potent disease-specific killer
T-cells as well as neutralizing antibodies. PDS Biotech has
engineered multiple therapies, based on combinations of
Versamune(R) and disease-specific antigens, designed to train the
immune system to better recognize disease cells and effectively
attack and destroy them.
# # #
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
For more information, please contact:
NetScientific
Ilian Iliev, CEO Tel: +44 (0)20 3514 1800
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel Tel: +44 (0)20 7220 1666
MO PR ADVISORY (Press Contact)
Mo Noonan Tel: +44 (0)78 7644 4977
About NetScientific
NetScientific PLC is a transatlantic healthcare IP
commercialisation Group focused on technologies and companies that
have the potential to treat chronic disease and significantly
improve the health and well-being of people.
For more information, please visit the website at www.NetScientific.net
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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