One Health Group switch to AIM
Aquis-quoted healthcare procedures supplier One Health Group plans to move to AIM. As part of the process it is raising £5.2m from a placing at 180p/share and existing shareholders have the chance to take up shares in an open offer of up to £500,000. A WRAP retail offer could raise up to £500,000 more.
The cash will be invested in the first owned surgical hub. This will cost up to £9m and it could generate £9m of income each year. It should be earnings enhancing in the first full year of operation.
The employee benefit trust (EBT), the chairman and chief medical officer are selling £1.8m worth of shares. The EBT will repay a £750,000 loan to the company. The retail offer closes on 24 February. The minimum subscription is £100.
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Performance of AIM new admissions in 2020
The QCA sets up AIM commission to assess future of the market
TheraCryf cash for Orexin-1 treatment
TheraCryf is raising £4.25m at 0.25p/share. The previous closing share price was 1p. The cash will finance the pre-clinical development of Orexin-1, which came with the acquisition of Chronos Therapeutics.
Orexin-1 is a potential drug for a range of neuropsychiatric disorders, including addiction and anxiety. This market could be worth $67.6bn by 2034. The preclinical data that will be generated will help to attract potential partners. TheraCryf was previously expected to have net cash of £900,000 by the end of March 2025.
Former Avacta boss Dr Alastair Smith has been appointed as TheraCryf chair. He will take his fee for at least 12 months in the form of shares.
Rosebank eyes acquisition
Cash shell Rosebank Industries is in discussions with Cerberus Capital about the acquisition of Electrical Components International Inc (ECI).
US-based ECI is a supplier of critical electrical distribution systems to a range of industries. No price has been put on the acquisition, but it will require a significant share issue and a new debt facility. The deal is subject to due diligence and will require a document for readmission to AIM.
Trading in Rosebank Industries shares has been suspended until there is a document. The share price fell 40p to 720p prior to the suspension. Rosebank Industries joined AIM on 11 July 2024 after raising £50m at 250p/share.
