RUA Life Sciences: Fundraising completed
On 30th December 2020, RUA reported that shareholders had approved resolutions regarding the placing along with a strongly oversubscribed Open Offer. RUA now start 2021 with the resources and mandate to accelerate the development of its products, where we anticipate reports of progress during the year. We have slightly increased our R&D and CapEx spend for FY 2022 to reflect this investment and the cash utilization.We have updated the valuation for revised share count, the full £7.0m amount raised in the placing and Open Offer, our estimate of the offering costs, and the modest increased investments in order to accelerate RUA’s products’ development. Our valuation now stands at £113.2m for the Company, or 510p per share.
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