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Summit Therapeutics Announces Placement of £15.0 Million of Ordinary Shares

Summit Therapeutics Plc ADS (SMMT)  More Company Research Source: GlobeNewswire
US:NASDAQ Investor Relations: summitplc.com/investors/investor-centre
PDF OXFORD, United Kingdom, March 27, 2018 (GLOBE NEWSWIRE) -- Summit Therapeutics plc (NASDAQ:SMMT) (AIM:SUMM), the drug discovery and development company advancing therapies for Duchenne muscular dystrophy and C. difficile infection, announces the pricing of a placement of £15.0 million of ordinary shares to investors in Europe. In the placement, a total of 8,333,333 new ordinary shares (“Placing Shares”) of the Company have been placed at a price of 180 pence per Placing Share to raise a total of approximately £15.0 million for the Company (before expenses), which is equivalent to approximately $21.2 million*. Completion of the placement remains conditional upon the admission of the ordinary shares to trading on the AIM market of the London Stock Exchange. It is expected that admission will become effective and that dealings in the Placing Shares on AIM will commence at 8.00 a.m. BST on March 29, 2018. Summit expects to use the net proceeds of the placing to (i) accelerate prepa [Read more]

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