Danish biotech company Bactiquant has decided to carry out a directed new share issue with the aim of raising up to approximately DKK 8.3 million before issue costs.
The capital will primarily be used to restore the company’s liquidity after a DKK 9.2 million loan from EIFO was repaid using its own funds on 30 September.
The repayment is expected to result in annual interest savings and liquidity improvements totaling just under DKK 2 million.
The share issue is carried out without pre-emptive rights for existing shareholders at the average market price over the past ten days.
