REG - Hemogenyx Pharma Plc - Issue of convertible loan notes

Hemogenyx PharmaceuticalsAnnouncement

19/02/2025 17:00

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RNS Number : 7540X  Hemogenyx Pharmaceuticals PLC  19 February 2025

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19 February 2025

HEMOGENYX PHARMACEUTICALS PLC

("Hemogenyx Pharmaceuticals" or the "Company")

Issue of convertible loan notes to raise £285,000

Hemogenyx Pharmaceuticals plc (LSE: HEMO) is pleased to announce that it has
raised £285,000 through the issue of convertible loan notes (the "CLNs"). As
the Company prepares to treat the first patient in the clinical trial of
HG-CT-1, its CAR-T cell therapy for relapsed or refractory acute myeloid
leukemia, it was approached by an investor group, primarily composed of
existing shareholders, offering to provide funding to support its clinical
trial. Further updates on the clinical trial will be provided in the near
future.

Convertible Loan Notes

To support the clinical trial, the Company is pleased to announce it has
raised £285,000 (before expenses) through the issuance of convertible loan
notes (the "CLNs") at a fixed conversion price of £3.00 per share.

The CLNs, which are non-interest bearing, will automatically convert following
an increase in the Company's headroom restrictions under the FCA's Prospectus
Rules, allowing for the issuance of conversion shares without requiring an
approved prospectus. This conversion is expected to take place on or shortly
after 8 March 2025.

Subscribers will also receive a one-for-one warrant, exercisable at a price of
£4.00 per share for each share held upon the CLN conversion date (the
"Warrants").

Vladislav Sandler, CEO of Hemogenyx Pharmaceuticals, commented:

"We are very pleased with the progress of the clinical trials for our lead
product, HG-CT-1. We are also grateful for the strong support from our
subscribing noteholders, the majority of whom are existing shareholders. I
believe this reflects their confidence in our strategy and long-term vision.

"We believe the CLNs are in the best interest of our shareholders, as it
extends the Company's financial runway. The Board believes that the
commencement of the clinical trial has significantly strengthened the
Company's position and created new opportunities to secure the funding needed
to complete clinical development."

Warrants

Each CLN subscriber will be issued one Warrant per conversion share on the
conversion date, which is expected to occur on or shortly after 8 March 2025,
in accordance with the terms of the CLN. The Warrants will have an exercise
price of £4.00 per share and will remain valid for 15 months from 1 March
2025.

Application for Admission

The Company will apply for the admission of the Ordinary Shares, issued to
subscribers upon the conversion of the CLNs, to trading on the London Stock
Exchange. Admission is expected to become effective on 15 March 2025.

Upon admission, the new Ordinary Shares will rank pari passu in all respects
with the existing Ordinary Shares and will be entitled to receive all future
dividends and distributions declared, paid, or made on the Company's ordinary
share capital.

Enquiries:

 

 Hemogenyx Pharmaceuticals plc                                   https://hemogenyx.com (https://hemogenyx.com/)
 Dr Vladislav Sandler, Chief Executive Officer & Co-Founder      headquarters@hemogenyx.com
 Peter Redmond, Director                                         peter.redmond@hemogenyx.com

 SP Angel Corporate Finance LLP                                  Tel: +44 (0)20 3470 0470
 Matthew Johnson, Vadim Alexandre, Adam Cowl

 Peterhouse Capital Limited                                      Tel: +44 (0)20 7469 0930
 Lucy Williams, Duncan Vasey, Charles Goodfellow

 

 

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