On 29 September 2022, Allergy Therapeutics announced a conditional Subscription by the Subscribers, Southern Fox and ZQ Capital (acting through its affiliate SkyGem), to raise £7 million at an Issue Price of 20 pence per Ordinary Share and the issue to the Note Purchasers, Southern Fox and ZQ Capital, of Loan Notes to raise a further £10 million.
In addition, in conjunction with the issue of Loan Notes, the Company will issue 33,333,332 Warrants to the Note Purchasers to subscribe for new Ordinary Shares at a Warrant Exercise Price of 30 pence per Warrant.
The Subscription and the Debt Financing are conditional, inter alia, on the passing of the Resolutions by the Shareholders at the General Meeting, which will be convened for 11 a.m. on 17 October 2022. If the Resolutions are passed, the Subscription Shares are expected to be allotted after the General Meeting, conditional on Admission, which is expected to occur on or around 8.00 a.m. on 19 October 2022. Should Shareholder approval not be obtained at the General Meeting, neither the Subscription nor the Debt Financing will proceed. Neither the Subscription nor the Debt Financing has been underwritten.
Documents related to the above can be found in the links below: