viewNetscientific PLC

NetScientific PLC portfolio company PDS Biotech agrees deal to raise up to US$20mln

The agreement will see the PDS direct Aspire Capital to buy up to 100,000 shares per day whenever the stock price exceeds 50 US cents

In total, purchases will be made up to $20mln or a 19.99% stake

One of NetScientific PLC’s (LON:NSCI) portfolio companies has agreed a funding deal to raise up to US$20mln.

PDS Biotechnology Corporation (Nasdaq:PDSB), in which NetScientific owns a 8.15% stake on a fully diluted basis, has agreed a liquidity funding programme with the Aspire Capital Fund, a Chicago-based, long-only investment fund.

All proceeds PDS receives are expected to be used for working capital and general corporate purposes.

This agreement sets out a plan where, on any trading day on which the price per share of PDS stock exceeds 50 US cents, PDS can direct Aspire to buy up to 100,000 shares per day.

In total, purchases will be made up to $20mln and up to a 19.99% stake.

All purchases will be made at a per share price equal to the lowest sale price of PDS stock common on the purchase date or the mean average of the three lowest closing sale prices during the ten preceding trading days.

Netscientific shares were up 10% to 7.97p on Wednesday morning.

Quick facts: Netscientific PLC

Price: 44 GBX

Market: AIM
Market Cap: £6.56 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Netscientific PLC named herein, including the promotion by the Company of Netscientific PLC in any Content on the Site, the Company receives...


Investor Update: ANGLE reports positive data from Parsortix FDA clinical study

Top stories from the Proactive Investors UK newsroom: ANGLE PLC (LON:AGL) has received positive results from its Parsortix FDA clinical study for metastatic breast cancer. The 400-subject clinical study will support an application for Class II regulatory clearance for Parsortix in the...

on 31/5/19

2 min read