4D pharma PLC (AIM:DDDD, NASDAQ:LBPS) said it has filed what’s called a shelf registration statement that will allow it to raise up to US$150mln by issuing American depositary shares listed in the US.
It has done so by lodging a Form F-3 with America’s Securities & Exchange Commission.
Shelf registrations are usually filed where there is no immediate intention to sell stock.
They provide the inbuilt flexibility to tap the markets as and when required. They also allow the company to come to the well multiple times up to a threshold without having to submit new paperwork.
The dual-listed group (it has quotes on AIM and Nasdaq) said the terms of its own share sale will be outlined in a prospectus at the time of any future fundraiser.
It said the proceeds would be used for general “corporate purposes”.
This might include “working capital, capital expenditures, research and development expenditures, clinical trial expenditures, commercial expenditures, milestone payments under in-license agreements, and possible acquisitions or in-license of additional compounds, product candidates or technology”, investors were told.
4D is a specialist in developing drugs that target the human microbiome, the bacterial ecosystem that resides mainly in the gut.
It is currently developing treatments for Parkinson’s, cancer, gastrointestinal and respiratory ailments, and autoimmune diseases.