RCS - IP Group PLC - ONT investment from Novo and £80m equity issue

IPAnnouncement

01/08/2024 11:30

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RNS Number : 8172Y  IP Group PLC  01 August 2024

 FOR RELEASE ON  01 August 2024

 

 

IP Group plc - Portfolio company Oxford Nanopore Technologies attracts
investment from Novo Holdings and completes Equity Issue of £80m

 

 

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in
breakthrough science and innovation companies with the potential to create a
better future for all, is pleased to note that Oxford Nanopore Technologies
plc ("Oxford Nanopore" or "the Company") has announced a new strategic
investment from Novo Holdings A/S ("Novo Holdings"), a world-leading life
sciences investor, as part of an £80m equity issue which was "multiple times
oversubscribed".

Oxford Nanopore confirmed a total of 25,000,000 New Ordinary Shares had been
placed, at a price of 120 pence, raising gross proceeds of approximately
£30m. The subscription by Novo Holdings was reduced to £50m from £60m with
Novo Holdings intending to "subject, inter alia, to availability and price, to
add over time to their initial primary investment through further market
purchases of up to £10m".

Oxford Nanopore noted that it had decided to increase the size of the equity
issue to £80m "in light of the strong demand from investors, with the
transaction multiple times oversubscribed".

Greg Smith, Chief Executive officer of IP Group, said: "This strategic
investment from Novo Holdings coupled with strong support from investors is a
huge endorsement of Oxford Nanopore. We are proud to continue supporting the
Company, a business that we helped found in 2005."

Following admission of the newly issued shares, IP Group will have an
undiluted beneficial holding of 8.9% in Oxford Nanopore and manages an
additional 1.3% through its managed funds.

For more information, please contact:

 

 IP Group plc                       www.ipgroupplc.com
 Liz Vaughan-Adams, Communications  +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Portland
 Alex Donaldson                     +44 (0) 7516 729702

 

Notes for editors

 

About IP Group

 

IP Group accelerates the impact of science for a better
future. As the most active UK based, early stage science investor, we
develop and support some of the world's most exciting businesses in
deeptech, life sciences and cleantech (led by Kiko Ventures). Through
Parkwalk, the UK's largest growth EIS fund manager, we also back
world-changing innovation emerging in leading universities and research
institutions. Our specialist investment team combines sector expertise with
an international approach. Together we have a strong track record of success,
having backed high-profile companies including Oxford Nanopore Technologies
plc, First Light Fusion, Hysata, and Oxa. IP Group is listed on the Main
Market of the London Stock Exchange under the code IPO. For more information,
please visit our website at www.ipgroupplc.com (http://www.ipgroupplc.com/) .

 

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