Acambis’ £40m raising a success; says trading in line with expectations
Acambis plc (ACM.L), the Cambridge-HQed vaccine development company, said the £40m share placing it announced a month ago has received strong support from existing shareholders.
At the time of announcing the placing, Acambis also said it had been awarded a $425m, ten-year contract by the US Government to provide it with US-based warm-base manufacturing for its ACAM2000 smallpox vaccine.
The company also said today that its trading performance and financial position have continued to be in line with the Board's expectations since last month.
The placing and open offer closed on Friday morning. Existing shareholders took up their entitlements that represented around 73% of the shares on offer. The balance was placed with shareholders seeking an extra allotment and with new investors at a price of 115 pence a share.
The news of the successful placing saw the company’s share price gain just over 1% to 115.25p, taking market capitalisation to around £124.2m.
The placing was underwritten by JPMorgan Cazenove and Piper Jaffray.
19 May 2008
