03 August 2020 16:44
Tiziana Life Sciences (NASDAQ:TLSA) inks agreements with investors for the purchase and sale of 11,009,615 of American Depositary Shares (ADSs) at $5.20/ADS in a registered direct offering. Each ADS represents two ordinary shares of nominal value £0.03 each, following the recent forward split which became effective on 31 July 2020. The ADSs in the offering will be within existing shareholder authorities. Gross proceeds should be ~$57.25M. Net proceeds will be used for the development of product candidates, to initiate a trial in HCC patients with Milciclib, for working capital and other general corporate purposes.
Closing date is August 5.