Result of Restricted Offer by RenalytixAI and Fundraising Update
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The Company is pleased to announce the results of the restricted offer made to its shareholders by Renalytix AI plc (“RenalytixAI”), which enabled qualifying EKF shareholders who returned a valid application form to subscribe RenalytixAI ordinary shares of £0.0025 each ("RENX Shares") at the issue price, being £1.21 (the "Restricted Offer").
RenalytixAI received valid applications from qualifying EKF shareholders in respect of 1,223,952 RENX Shares, representing gross proceeds of approximately £1.48 million.
The allotment and issue of RENX Shares in connection with the Restricted Offer remains conditional upon, among other things, the entire issued share capital of RenalytixAI being admitted to trading on AIM ("Admission"). A revised Schedule 1 announcement will be submitted to AIM for release as soon as practicably possible.
Total gross proceeds raised by RenalytixAI, pursuant to the overall fundraising and conditional upon Admission, among other things, is approximately £22.25 million with the balance of funds being raised from the Placing and US Subscription.
As announced previously, the Company is participating in the fundraising; it has conditionally agreed to subscribe for RENX Shares in the Placing for an investment of approximately £3.12 million and is therefore expected to hold approximately 4.79% of the issued share capital of RenalytixAI on Admission.
Full details of the Fundraising will be available in due course in the RenalytixAI admission document which will be made available in conjunction with Admission at www.renalytixai.com.
Capitalised terms in this announcement that are not defined carry the same definitions as in prior announcements in relation the fundraising.
EKF Diagnostics Holdings plc
Tel: 00 44 29 2071 0570
|N+1 Singer (Nomad & Broker)
Aubrey Powell / Lauren Kettle / George Tzimas (Corporate Finance)
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Walbrook PR Limited
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About EKF Diagnostics Holdings plc www.ekfdiagnostics.com
EKF is a leading point-of-care diagnostics and central laboratory assay manufacturer with an estimated 80,000 hemoglobin, hematocrit, HbA1c, glucose and lactate analyzers in regular use across more than 100 countries. EKF specializes in developing tests for use in anemia and diabetes diagnosis and management, as well as providing a portfolio of reagents for use in clinical chemistry analyzers.