Physiomics secures 4.0m pound flexible financing option

UK-based systems biology company Physiomics has entered into a 4.0m pound standby equity distribution agreement with YA Global Master SPV, an investment fund managed by Yorkville Advisors.

UK-based systems biology company Physiomics has entered into a 4.0m pound standby equity distribution agreement with YA Global Master SPV, an investment fund managed by Yorkville Advisors.

The agreement is primarily intended to strengthen the company's position for future mergers and acquisitions negotiations and the funds could also be used for working capital in the future.

According to Physiomics, the funds are available in two tranches of up to £2.0m and at this stage, no funds have yet been drawn down.

Under the terms of the agreement, Physiomics is allowed to draw down funds over a period of up to three years in exchange for the issue of new ordinary shares in the company.

The maximum advance that may be requested is 300% of the average daily trading volume of ordinary shares multiplied by the volume weighted average price of such shares for each of the 20 trading days immediately preceding the draw down request, and with an overall advance limit of £0.5m per draw down.

Dr Mark Chadwick, Chief Executive Officer of Physiomics, said: "This flexible financing option strengthens the position of the company, particularly for any future mergers and acquisitions negotiations.

"While the available funds are not immediately required, this deal could also provide an opportunity to provide further working capital to see us through to the realisation of our new commercial offerings in development, should the need arise."

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020