News blog

Cyprotex

• BY: Andrew Hore |
• POSTED: 03/09/2013 |

Cyprotex has set announced the details of its £7m placing and open offer of loan notes. 

Cyprotex is offering 0.01783003 of a £1 loan note for every ordinary share, which will raise £4m. The closing date is 23 September. Harwood Capital is underwriting the open offer and acquiring £3m of loan notes in the placing. Harwood owns 27.3% of Cyprotex through Oryx International.

Cyprotex provides services to pharma companies that enable them to choose the compounds most likely to be effective and assess their potential toxicity. The cash will help Cyprotex to increase capacity and enable it to make acquisitions to expand its range of services.

At 6.38p a share, Cyprotex is valued at £14.3m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2013_47.pdf