This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:GW Pharmaceuticals plc - New Shares Issued Raising $11.2m (£6.6m) 2009-08-06 12:45 ET - News Release
PORTON DOWN, UK -- (Business Wire)
GW Pharmaceuticals plc (GWP: AIM), the developer and manufacturer of a
range of new cannabinoid medicines, including Sativex®, today announces
that it has signed an agreement with funds controlled by Great Point
Partners (“Great Point”), a United States-based specialist healthcare
institutional investor, to subscribe for 7,553,920 new GW ordinary
shares at 78 pence per share. This agreement follows a recent
unsolicited request by Great Point for it to take a significant equity
position in the Company.
In addition, GW has signed an agreement with M&G Investment Management
Ltd (“M&G”), its largest institutional shareholder, to subscribe for
917,000 new ordinary shares at 78 pence per share, thus maintaining
M&G’s shareholding percentage prior to the subscription.
In total, the subscription has raised $11.2 million (£6.6 million)
before expenses. The subscription price of 78 pence per share compares
with a closing price of 77 pence per share on the previous day.
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