IN BRIEF: Celsius Resources renews licence for Opuwo cobalt projectĬelsius Resources Ltd - Perth, Australia-based explorer focused on its portfolio of copper-gold.In conjunction with the Nasdaq listing, the closing of the merger and concurrent fundraise give 4D Pharma an additional USD40 million of capital and puts the company in a very strong financial position to execute across our robust pipeline,' said Peyton.īy Zoe Wickens 2021 Alliance News Limited. Becoming a dual-listed company both in the UK and the US broadens our global reach. 'The closing of 4D Pharma's merger with Longevity represents a transformational milestone for the company. Shares in 4D Pharma were up 1.1% at 135.00 pence in London on Monday. The proceeds will help to continue the 'rapid pace of development' of the company's pipeline of live biotherapeutics. The company will issue 31.1 million shares, allotting 19.8 million of these to Longevity.ĤD Pharma said its existing board of directors and management team will lead the combined company, with Longevity's USD14.8 million in cash held now available to it.Īdditionally, Merck Sharp & Dohme Corp subscribed for 654,023 4D Pharma shares at an issue price of USD1.53 in a private placement launched last Wednesday, raising a total of USD25 million gross.ĤD Pharma Chief Executive Duncan Peyton and Chief Scientific Officer Alex Stevenson said on the same day they plan to subscribe for USD2 million shares at the issue price, following the release of the company's 2020 results. The deal valued 4D Pharma shares at GBP1.10 each, which is an 18% premium to the closing share price on October 21, and GBP144.5 million altogether. Longevity shareholders now hold 13% of the enlarged firm. The Leeds-based live biotherapeutic products developer said 4D American Depositary Shares are expected to commence trading on Monday on the NASDAQ Global Market in the US, with JPMorgan Chase Bank acting as depositary bank for the ADSs.ĤD Pharma said it planned to merge with Longevity back in October as a way to access US capital markets.

(Alliance News) - 4D Pharma PLC on Monday announced it has now merged with NASDAQ-listed special purpose acquisition company Longevity Acquisition Corp.

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