REG - IP Group PLC - Top 20 portfolio company funding round

IPAnnouncement

22/12/2023 07:15

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RNS Number : 7581X  IP Group PLC  22 December 2023

 FOR RELEASE ON  22 December 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK
VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) WHICH FORMS PART OF
ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

 

IP Group plc - Top 20 portfolio company funding round

 

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, notes its participation today in a follow-on portfolio
company funding round, for which it anticipates recording a net unrealised
fair value gain of approximately £40m* or 4p per share.

IP Group has committed a total of US$15m (£11.8m*) to the funding round.
Completion of the transaction is subject to certain conditions and is due to
occur in mid-January 2024. Further information on the funding round, which has
been supported by both existing and new investors, will be provided in due
course.

The Group's directors are currently reviewing the carrying values of all
assets in the portfolio as part of the usual year-end process. While it is too
early to provide guidance as to the carrying values of the Group's portfolio
companies, they currently anticipate that the gain relating to this
investment will be offset by other fair value reductions in the portfolio.

*GBP equivalent using 1.26 USD/GBP

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
 Vic Wallin                         +44 (0) 7973 823119

 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/) .

 

ENDS

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