TIDMNSCI
RNS Number : 8436V
NetScientific PLC
12 August 2020
NetScientific plc
("NetScientific" or the "Company")
PDS Biotechnology Corporation Announces Pricing of $16.5 Million
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
finalised pricing of its previously announced underwritten public
offering which consisted of 6,000,000 shares of common stock at a
public offering price of $2.75 per share. The gross proceeds to PDS
Biotech from this offering are expected to be $16,500,000, before
deducting underwriting discounts, commissions and other offering
expenses. The offering is expected to close on Thursday, August 13,
2020, subject to customary closing conditions.
NetScientific confirms that it has subscribed. GBP0.5 million
for 236,000 shares of common stock. Pending receipt of funds from
NetScientific's agreed placement which is expected at the end of
August, the short term finance has been covered by drawing down
GBP0.4 million under the loan facility agreement dated 9 April 2020
with the AB Group Limited and the rest coming from existing
resources.
NetScientific holds approx. 5.99% of PDS's undiluted share
capital post the offering.
Dr. Ilian Iliev, Chief Executive Office of Net Scientific and
Board member of PDS Biotechnology said: "With this funding round,
PDS Biotech can accelerate its clinical trials programme and
progress the company's development of cancer treatment and
infectious disease vaccine programmes (including for COVID-19)
based on its Versamune platform. Securing such significant funding
during a volatile period in the economy indicates the increasing
market recognition of PDS Biotech as an emerging market
leader."
John Clarkson, Chairman of the Net Scientific said: "We are
delighted by this excellent result for NetScientific, with the
successful completion of another significant milestone, which
reinforces the accelerating progress in the Company's new proactive
management strategy."
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/411-iotechnologyorporationnnouncesricingof165i20200811
# # #
PDS Biotechnology Corporation Announces Pricing of $16.5 Million
Public Offering of Common Stock
FLORHAM PARK, N.J., Aug. 11, 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 the pricing of its previously announced
underwritten public offering consisting of 6,000,000 shares of
common stock at a public offering price of $2.75 per share. The
gross proceeds to PDS Biotech from this offering are expected to be
$16,500,000, before deducting underwriting discounts, commissions
and other offering expenses. In addition, PDS Biotech has granted
the underwriter a 30-day option to purchase up to 900,000
additional shares of common stock at the public offering price,
less the underwriting discounts and commissions. The offering is
expected to close on Thursday, August 13, 2020, subject to
customary closing conditions.
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 final 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 .
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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