Midatech announced an all-stock acquisition of Bioasis Technologies (a Canada-based biopharmaceutical company) by issuing 75,884,553 new shares at an exchange ratio 0.9556 per Bioasis share. This translated to a deal value of c C$7.4m (c £4.4m) at the time of the announcement (at c 5.8p per Midatech share) but is subject to change based on share price movements. The proposed acquisition is expected to close in Q123, contingent on regulatory and shareholder approval. In parallel, Midatech announced a two-stage equity raise worth US$10.0m (£8.2m), which will be utilised to support working capital requirements of the combined business and partially pay Bioasis's outstanding debt. Following the acquisition, Midatech now intends to maintain a dual listing (AIM and NASDAQ).Den vollständigen Artikel lesen ...
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