REG - Oxford Biomedica PLC - Results of Placing

Oxford BioMedicaAnnouncement

15/08/2025 07:10

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RNS Number : 5047V  Oxford Biomedica PLC  15 August 2025

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE
IMPORTANT NOTICE SECTION OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF
SECURITIES IN ANY JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO.596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE
UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

15 August 2025

Oxford Biomedica plc

Results of Placing

Oxford Biomedica plc (LSE: OXB), ("OXB", the "Company", and, together with its
subsidiaries, the "Group"), a global quality and innovation-led cell and gene
therapy CDMO, is pleased to announce the successful completion of the placing
of new ordinary shares of 50 pence each ("Ordinary Shares") in the capital of
the Company announced on 14 August 2025 (the "Placing").

A total of 12,212,857 new Ordinary Shares (the "Placing Shares") have been
placed by Jefferies International Limited ("Jefferies"), who is acting as
global coordinator and joint bookrunner, and RBC Europe Limited ("RBC Capital
Markets"), who is acting as joint bookrunner (together, the "Banks") at a
price of £4.31 per Placing Share (the "Placing Price").

Concurrently with the Placing, certain existing shareholders of the Company
agreed to subscribe for 1,708,257 Ordinary Shares (the "Subscription Shares")
at the Placing Price (the "Subscription").

The Placing and the Subscription together raised gross proceeds of
approximately £60 million.

The net proceeds of the Placing and Subscription will be used to fund
strategic investments to expand OXB's US commercial-scale capacity and advance
process quality, productivity and yields. This will allow the Company to
address growing client demand including visible near and medium-term
opportunities across all clinical phases, including late-stage and commercial
supply.

The Placing Price of £4.31 represents a discount of approximately 1.93 per
cent to the closing share price of £4.40 on 14 August 2025. The Placing
Shares and Subscription Shares being issued represent 13.1 per cent of the
issued ordinary share capital of the Company immediately prior to the Placing
and Subscription.

The Company consulted with a number of its major institutional shareholders
prior to the Placing and has respected the principles of pre-emption through
the allocation process insofar as possible. The Company is pleased by the
strong support it has received from new shareholders such as Massachusetts
Institute of Technology, alongside existing shareholders Briarwood Chase
Management, Novo Holdings A/S and Institut Mérieux S.A., amongst others.

Applications have been made to the Financial Conduct Authority (the "FCA") and
London Stock Exchange plc (the "LSE") respectively for the admission of the
Placing Shares and Subscription Shares to the equity shares (commercial
companies) category of the Official List of the FCA and to trading on the main
market for listed securities of the LSE (together, "Admission"). It is
expected that Admission and settlement of the Placing Shares and Subscription
Shares will become effective on or before 8.00 a.m. on 20 August 2025. The
Placing is conditional upon, amongst other things, Admission becoming
effective and upon the placing agreement between the Company and the Banks
(the "Placing Agreement") not being terminated in accordance with its terms
prior to Admission.

The Placing Shares and Subscription Shares will, when issued, be fully paid
and rank pari passu in all respects with the existing ordinary shares of 50
pence each in the capital of the Company, including, without limitation, the
right to receive all dividends and other distributions declared, made or paid
after the date of issue.

Following the Placing, the Company shall be subject to a lock-up for a period
of 180 days following the date of the Placing Agreement, subject to waiver by
the Banks and certain customary carve-outs agreed between the Banks and the
Company.

Following Admission, the total number of shares in issue in OXB will be
120,162,121 ordinary shares. Therefore, following Admission, the total number
of voting rights in OXB will be 120,162,121. This figure may be used by
shareholders as the denominator for the calculations by which they determine
if they are required to notify their interest in, or a change in their
interest in, the Company under the Disclosure Guidance and Transparency Rules
of the FCA.

This announcement should be read in its entirety. In particular, you should
read and understand the information provided in the "Important Notices"
section of this Announcement.

The person responsible for arranging release of this Announcement on behalf of
OXB is Natalie Walter, General Counsel.

Contact details

Jefferies:

T: +44 (0)20 7029 8000

Gil Bar-Nahum / Aditi Venkatram / Sam Barnett

RBC Capital Markets:

T:  +44 (0)20 7653 4000

Thomas Stockman / Kathryn Deegan

OXB:

Sophia Bolhassan, Head of Investor Relations - T: +44 (0) 1865 509 737 / E:
ir@oxb.com (mailto:ir@oxb.com)

ICR Healthcare:

T: +44 (0)20 3709 5700 / E: oxb@icrhealthcare.com

Mary-Jane Elliott / Angela Gray / Davide Salvi

About OXB

OXB (LSE: OXB) is a global quality and innovation-led contract development and
manufacturing organisation (CDMO) in cell and gene therapy with a mission to
enable its clients to deliver life changing therapies to patients around the
world.

One of the original pioneers in cell and gene therapy, OXB has 30 years of
experience in viral vectors; the driving force behind the majority of cell and
gene therapies. OXB collaborates with some of the world's most innovative
pharmaceutical and biotechnology companies, providing viral vector development
and manufacturing expertise in lentivirus, adeno-associated virus (AAV),
adenovirus and other viral vector types. OXB's world-class capabilities range
from early-stage development to commercialisation. These capabilities are
supported by robust quality-assurance systems, analytical methods and depth of
regulatory expertise.

OXB offers a vast number of unique technologies for viral vector
manufacturing, including a 4th generation lentiviral vector system (the
TetraVecta™ system), a dual-plasmid system for AAV production, suspension
and perfusion process using process enhancers and stable producer and
packaging cell lines.

OXB, a FTSE4Good constituent, is headquartered in Oxford, UK. It has
development and manufacturing facilities across Oxfordshire, UK, Lyon and
Strasbourg, France and Bedford MA, US. Learn more at www.OXB.com
(http://www.OXB.com) , and follow us on LinkedIn
(https://www.linkedin.com/company/oxford-biomedica) and YouTube.
(https://www.youtube.com/oxfordbiomedica)

Pre-Emption Group Reporting

The Placing is a non-pre-emptive issue of equity securities for cash and
accordingly the Company makes the following post transaction report in
accordance with the most recently published Pre-Emption Group Statement of
Principles (2022).

 Name of Issuer       Oxford Biomedica plc
 Transaction details  In aggregate, the Placing and Subscription of 13,921,114 ordinary shares
                      represents approximately 13.1% of the Company's issued ordinary share capital.
                      Settlement for the Placing Shares and Subscription Shares and Admission are
                      expected to take place on or before 8.00 a.m. on 20 August 2025.
 Use of proceeds      The net proceeds of the Placing and Subscription will be used to fund
                      strategic investments to expand OXB's US commercial-scale capacity and advance
                      process quality, productivity and yields. This will allow the Company to
                      address growing client demand including visible near and medium-term
                      opportunities across all clinical phases, including late-stage and commercial
                      supply.
 Quantum of proceeds  In aggregate, the Placing and Subscription represents gross proceeds of
                      approximately £60 million and net proceeds of approximately £58 million.
 Discount             The Placing Price of £4.31 represents a discount of 1.93 per cent to the
                      closing share price of £4.40 on 14 August 2025.
 Allocations          Soft pre-emption has been adhered to in the allocations process. Management
                      was involved in the allocations process, which has been carried out in
                      compliance with the MIFID II Allocation requirements.
 Consultation         The Banks undertook a pre-launch wall-crossing process, including consultation
                      with major shareholders, to the extent reasonably practicable and permitted by
                      law.
 Retail Investors     Following due consideration, only institutional investors were eligible to
                      participate in the Placing.

 

 

IMPORTANT NOTICES

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE,
FORWARDING OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN
OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION
WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY
AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. THIS ANNOUNCEMENT HAS
NOT BEEN APPROVED BY THE FCA OR THE LONDON STOCK EXCHANGE, NOR IS IT INTENDED
THAT IT WILL BE SO APPROVED.

Oxford Biomedica plc is a company registered in England and Wales with company
number 03252665 and registered office at Windrush Court, Transport Way,
Oxford, OX4 6LT, United Kingdom.

The securities referred to herein have not been and will not be registered
under the United States Securities Act of 1933, as amended (the "Securities
Act"), or with any securities regulatory authority of any state or other
jurisdiction of the United States, and may not be offered, sold or transferred
directly or indirectly in or into the United States, except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and in compliance with the securities laws
of any state or any other jurisdiction of the United States. Accordingly, the
Placing Shares are being offered and sold by the Company only: (i) outside the
United States in "offshore transactions" (as such terms are defined in
Regulation S under the Securities Act ("Regulation S")) pursuant to Regulation
S under the Securities Act and otherwise in accordance with applicable laws;
and (ii) in the United States to a limited number of "qualified institutional
buyers" (as defined in Rule 144A under the Securities Act) ("QIBs"). The
securities referred to herein have not been approved, disapproved or
recommended by the U.S. Securities and Exchange Commission, any state
securities commission in the United States or any other United States
regulatory authority, nor have any of the foregoing authorities passed upon or
endorsed the merits of the offering of the securities referred to herein. No
public offering of the Placing Shares has been or is being made in the United
States.

No action has been taken by the Company, Jefferies International Limited
("Jefferies") or RBC Europe Limited ("RBC Capital Markets") or any of their
respective affiliates, or any of their respective directors, officers,
partners, employees, representatives, advisers or agents (collectively,
"Representatives") that would, or is intended to, permit an offer of the
Placing Shares or possession or distribution of this Announcement or any other
publicity material relating to such Placing Shares in any jurisdiction where
action for that purpose is required.

This Announcement is for information purposes only and does not constitute an
offer to sell or issue, or the solicitation of an offer to buy, acquire,
underwrite or subscribe for or otherwise acquire or dispose of any shares in
the capital of the Company in the United States, Australia, Canada, the
Republic of South Africa, Japan or any other state or jurisdiction in which
such offer or solicitation is not authorised or to any person to whom it is
unlawful to make such offer or solicitation. The distribution of this
Announcement, and the Placing and/or the offer or sale of the Placing Shares,
may be restricted by law in certain jurisdictions. Persons receiving this
Announcement are required to inform themselves about and to observe any such
restrictions. Persons (including, without limitation, nominees and trustees)
who have a contractual or other legal obligation to forward a copy of this
Announcement should seek appropriate advice before taking any action. Persons
distributing any part of this Announcement must satisfy themselves that it is
lawful to do so. Any failure to comply with these restrictions may constitute
a violation of securities laws of such jurisdictions.

This Announcement is directed at and is only being distributed to persons: (a)
if in member states of the European Economic Area (the "EEA"), "qualified
investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129
(the "EU Prospectus Regulation") ("Qualified Investors"); or (b) if in the
United Kingdom, "qualified investors" within the meaning of Article 2(e) of
the UK version of Regulation (EU) 2017/1129 as it forms part of UK law by
virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus
Regulation") who are (i) persons who fall within the definition of "investment
professionals" in Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order"), or (ii) persons
who fall within Article 49(2)(a) to (d) of the Order; or (iii) persons to whom
it may otherwise lawfully be communicated (each such person in (i), (ii) and
(iii) above, a "Relevant Person"). No other person should act or rely on this
Announcement and persons distributing this Announcement must satisfy
themselves that it is lawful to do so. By accepting the terms of this
Announcement, you represent and agree that you are a Relevant Person, if in
the United Kingdom, or a Qualified Investor, if in a member state of the EEA.
This Announcement must not be acted on or relied on by persons who are not
Relevant Persons, if in the United Kingdom, or Qualified Investors, if in a
member state of the EEA. Any investment or investment activity to which this
Announcement or the Placing relates is available only to Relevant Persons, if
in the United Kingdom, and Qualified Investors, if in a member state of the
EEA, and has been and will be engaged in only with Relevant Persons, if in the
United Kingdom, and Qualified Investors, if in a member state of the EEA.

No offering document or prospectus has been or will be made available in any
jurisdiction in connection with the matters contained or referred to in this
Announcement or the Placing and no such offering document or prospectus is
required (in accordance with the EU Prospectus Regulation or UK Prospectus
Regulation) to be published. This Announcement does not constitute a
prospectus or offering memorandum or an offer in respect of any securities and
is not intended to provide the basis for any decision in respect of the
Company or other evaluation of any securities of the Company or any other
entity and should not be considered as a recommendation that any investor
should subscribe for, purchase, otherwise acquire, sell or otherwise dispose
of any such securities.

Certain statements in this Announcement are forward-looking statements with
respect to the Company's expectations, intentions and projections regarding
its future performance, strategic initiatives, anticipated events or trends
and other matters that are not historical facts and which are, by their
nature, inherently predictive, speculative and involve risks and uncertainty
because they relate to events and depend on circumstances that may or may not
occur in the future. All statements that address expectations or projections
about the future, including statements about operating performance, strategic
initiatives, objectives, market position, industry trends, general economic
conditions, expected expenditures, expected cost savings and financial results
are forward-looking statements. Any statements contained in this Announcement
that are not statements of historical fact are, or may be deemed to be,
forward-looking statements. These forward-looking statements, which may use
words such as "aim", "anticipate", "believe", "could", "intend", "estimate",
"expect", "may", "plan", "project" or words or terms of similar meaning or the
negative thereof, are not guarantees of future performance and are subject to
known and unknown risks and uncertainties. There are a number of factors
including, but not limited to, commercial, operational, economic and financial
factors, that could cause actual results, financial condition, performance or
achievements to differ materially from those expressed or implied by these
forward-looking statements. Many of these risks and uncertainties relate to
factors that are beyond the Company's ability to control or estimate
precisely, such as changes in taxation or fiscal policy, future market
conditions, currency fluctuations, the behaviour of other market participants,
the actions of governments or governmental regulators, or other risk factors,
such as changes in the political, social and regulatory framework in which the
Company operates or in economic or technological trends or conditions,
including inflation, recession and consumer confidence, on a global, regional
or national basis. Given those risks and uncertainties, readers are cautioned
not to place undue reliance on forward-looking statements. Forward-looking
statements speak only as of the date of this Announcement. Each of the
Company, Jefferies and RBC Capital Markets and their respective affiliates and
Representatives expressly disclaims any obligation or undertaking to update or
revise publicly any forward-looking statements, whether as a result of new
information, future events or otherwise unless required to do so by applicable
law or regulation.

In particular, no statement in this Announcement is intended to be a profit
forecast or profit estimate and no statement of a financial metric (including
estimates of EBITDA, profit before tax, free cash flow or net debt) should be
interpreted to mean that any financial metric for the current or future
financial years would necessarily match or exceed the historical published
position of the Company and its subsidiaries. Certain statements in this
Announcement may contain estimates. The estimates set out in this Announcement
have been prepared based on numerous assumptions and forecasts, some of which
are outside of the Company's influence and/or control, and is therefore
inherently uncertain and there can be no guarantee or assurance that it will
be correct. The estimates have not been audited, reviewed, verified or subject
to any procedures by the Company's auditors. Undue reliance should not be
placed on them and there can be no guarantee or assurance that they will be
correct.

Each of Jefferies and RBC Capital Markets are authorised and regulated in the
United Kingdom by the FCA and acting exclusively for the Company and for no
one else in connection with the Placing and will not regard any other person
(whether or not a recipient of this Announcement) as a client in relation to
the Placing or any other matter referred to in this Announcement and will not
be responsible to anyone other than the Company for providing the protections
afforded to its clients or for giving advice in relation to the Placing or any
other matter referred to in this Announcement.

This Announcement is being issued by and is the sole responsibility of the
Company. No representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or will be
accepted by or on behalf of Jefferies or RBC Capital Markets (apart from the
responsibilities or liabilities that may be imposed by the Financial Services
and Markets Act 2000, as amended (the "FSMA") or the regulatory regime
established thereunder) or their respective affiliates or any of their
Representatives as to, or in relation to, the accuracy, adequacy, fairness or
completeness of this Announcement or any other written or oral information
made available to or publicly available to any interested party or its
advisers or any other statement made or purported to be made by or on behalf
of any of Jefferies or RBC Capital Markets or any of their respective
affiliates or Representatives in connection with the Company, the Placing
Shares or the Placing and any responsibility and liability whether arising in
tort, contract or otherwise therefore is expressly disclaimed. No
representation or warranty, express or implied, is made by Jefferies or RBC
Capital Markets or any of their respective affiliates or Representatives as to
the accuracy, fairness, verification, completeness or sufficiency of the
information or opinions contained in this Announcement or any other written or
oral information made available to or publicly available to any interested
party or its advisers, and any liability therefore is expressly disclaimed.

The information in this Announcement may not be forwarded or distributed to
any other person and may not be reproduced in any manner whatsoever. Any
forwarding, distribution, reproduction or disclosure of this Announcement, in
whole or in part, is unauthorised. Failure to comply with this directive may
result in a violation of the Securities Act or the applicable laws of other
jurisdictions.

This Announcement does not constitute a recommendation concerning any
investor's investment decision with respect to the Placing. Recipients of this
Announcement should conduct their own investigation, evaluation and analysis
of the business, data and other information described in this Announcement.
This Announcement does not identify or suggest, or purport to identify or
suggest, the risks (direct or indirect) that may be associated with an
investment in the Placing Shares. The price and value of securities can go
down as well as up and investors may not get back the full amount invested
upon the disposal of the shares. Past performance is not a guide to future
performance. The contents of this Announcement are not to be construed as
legal, business, financial or tax advice. Each investor or prospective
investor should consult with his or her or its own legal adviser, business
adviser, financial adviser or tax adviser for legal, business, financial or
tax advice.

Any indication in this Announcement of the price at which the Company's shares
have been bought or sold in the past cannot be relied upon as a guide to
future performance. Persons needing advice should consult an independent
financial adviser. No statement in this Announcement is intended to be a
profit forecast or profit estimate for any period and no statement in this
Announcement should be interpreted to mean that earnings, earnings per share
or income, cash flow from operations or free cash flow for the Company for the
current or future financial periods would necessarily match or exceed the
historical published earnings, earnings per share or income, cash flow from
operations or free cash flow for the Company.

All offers of the Placing Shares have been made pursuant to an exemption under
the UK Prospectus Regulation from the requirement to produce a prospectus.
This Announcement is being distributed and communicated to persons in the
United Kingdom only in circumstances in which section 21(1) of the FSMA does
not apply.

The Placing Shares to be issued pursuant to the Placing will not be admitted
to trading on any stock exchange other than the main market for listed
securities of the London Stock Exchange.

In connection with the Placing, each of Jefferies and RBC Capital Markets and
any of their respective affiliates or Representatives, acting as investors for
their own account, may take up a portion of the Placing Shares in the Placing
as a principal position and in that capacity may retain, purchase, sell, offer
to sell for the own accounts or otherwise deal for their own account in such
Placing Shares and other securities of the Company or related investments in
connection with the Placing or otherwise. Accordingly, references to Placing
Shares having been or being offered, acquired, placed or otherwise dealt in
should be read as including any issue or offer to, or acquisition, placing or
dealing by, each of Jefferies and RBC Capital Markets and any of their
respective affiliates and Representatives acting in such capacity. In
addition, each of Jefferies and RBC Capital Markets and any of their
respective affiliates or Representatives may enter into financing arrangements
(including swaps, warrants or contracts for difference) with investors in
connection with which each of Jefferies and RBC Capital Markets and any of
their respective affiliates may from time to time acquire, hold or dispose of
shares. Neither Jefferies nor RBC Capital Markets intend to disclose the
extent of any such investment or transactions otherwise than in accordance
with any legal or regulatory obligations to do so.

Neither the content of the Company's website (or any other website) nor the
content of any website accessible from hyperlinks on the Company's website (or
any other website) is incorporated into, or forms part of, this Announcement.

This Announcement has been prepared for the purposes of complying with
applicable law and regulation in the United Kingdom and the information
disclosed may not be the same as that which would have been disclosed if this
Announcement had been prepared in accordance with the laws and regulations of
any jurisdiction outside the United Kingdom.

UK Product Governance Requirements

Solely for the purposes of the product governance requirements contained
within the FCA Handbook Product Intervention and Product Governance Sourcebook
(the "UK Product Governance Rules"), and disclaiming all and any liability,
whether arising in tort, contract or otherwise, which any 'manufacturer' (for
the purposes of the UK Product Governance Rules) may otherwise have with
respect thereto, the Placing Shares have been subject to a product approval
process, which has determined that such Placing Shares are: (a) compatible
with an end target market of retail investors and investors who meet the
criteria of professional clients and eligible counterparties, each as defined
in Chapter 3 of the FCA Handbook Conduct of Business Sourcebook ("COBS"); and
(b) eligible for distribution through all permitted distribution channels (the
"UK target market assessment"). Notwithstanding the UK target market
assessment, distributors should note that: the price of the Placing Shares may
decline and investors could lose all or part of their investment; the Placing
Shares offer no guaranteed income and no capital protection; and an investment
in the Placing Shares is compatible only with investors who do not need a
guaranteed income or capital protection, who (either alone or in conjunction
with an appropriate financial or other adviser) are capable of evaluating the
merits and risks of such an investment and who have sufficient resources to be
able to bear any losses that may result therefrom. The UK target market
assessment is without prejudice to the requirements of any contractual, legal
or regulatory selling restrictions in relation to the Placing. Furthermore, it
is noted that, notwithstanding the UK target market assessment, each of
Jefferies and RBC Capital Markets have only procured investors for the Placing
Shares who meet the criteria of professional clients and eligible
counterparties.

For the avoidance of doubt, the UK target market assessment does not
constitute: (a) an assessment of suitability or appropriateness for the
purposes of COBS 9A and COBS 10A, respectively; or (b) a recommendation to any
investor or group of investors to invest in, or purchase or take any other
action whatsoever with respect to the Placing Shares. Each distributor is
responsible for undertaking its own UK target market assessment in respect of
the Placing Shares and determining appropriate distribution channels.

EACH OF THE COMPANY, THE BANKS AND THEIR RESPECTIVE AFFILIATES EXPRESSLY
DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO UPDATE, REVIEW OR REVISE ANY
STATEMENT CONTAINED IN THIS ANNOUNCEMENT WHETHER AS A RESULT OF NEW
INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.

NOTWITHSTANDING ANYTHING IN THE FOREGOING, NO PUBLIC OFFERING OF THE PLACING
SHARES HAS BEEN OR IS BEING MADE BY ANY PERSON ANYWHERE AND THE COMPANY HAS
NOT AUTHORISED OR CONSENTED TO ANY SUCH OFFERING IN RELATION TO THE PLACING
SHARES.

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