CRISM Therapeutics Corporation (AIM:CRTX) has launched a retail offer via BookBuild of new shares at an issue price of 10.0p per share to raise up to £100,000.
The UK clinical-stage drug delivery company said the net proceeds will be used to help secure significant grant funding (subject to confirmation), progress the Phase 2 open-label trial of irinotecan-ChemoSeed for glioblastoma, support development of docetaxel-ChemoSeed for prostate cancer and provide additional working capital.
The Retail Offer sits alongside a placing of new shares at the same price. The offer opens at 7:30 am on 26 May and is expected to close at 11:00 am on 28 May, with results announced on 28 May, a general meeting to authorise the issue scheduled for 15 June and admission of the new shares expected on 16 June.
The offer is available only to existing UK shareholders through participating intermediaries on the BookBuild platform, carries a minimum subscription of £100, will not exceed aggregate consideration of £100,000, and applications cannot be withdrawn once accepted.
