LCT files $2.8m shares
February 18, 2016
LIVING Cell Technologies (LCT)
has completed the placement of
54,607,546 shares at NZ$0.05063
to wholesale investors in New
Zealand, raising NZ$2,764,621,
according to Business Wire.
The issue price represents a
10% discount to the 5-day volume
weighted average price to 12 Feb
2016.
The funds will be used as working
capital to carry out the Phase IIb
clinical trial of lead product NTCELL
in Parkinson’s Disease, LCT said.
The company also announced a
Share Purchase Plan for eligible
shareholders, opening 24 Feb until
11 Mar.
NTCELL has the potential to be
used in a number of other central
nervous system indications such
as Huntington’s, Alzheimer’s and
motor neurone diseases, the
company said.
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