Renalytix announces $20.3M private placement

Renalytix announces a $20.3 million private placement of Ordinary Shares and American Depositary Shares. Fundraise comprising a $20.3 million private placement of primary equity securities at $2.17 per American Depositary Share, with each representing two ordinary shares of GBP 0.0025 each / GBP 0.90 per Ordinary Share.The Fundraise will generate gross cash proceeds of $20.3 million, the net proceeds of which will be used for sales and marketing, clinical product development, and corporate support and financing costs. The Fundraise is comprised of subscriptions for 3,699,910 Ordinary Shares and 7,511,525 ADSs, at a price of $2.17 per ADS and GBP 0.90 per Ordinary Share. The Fundraise is expected to close on or about February 9, 2023, subject to customary closing conditions. Stifel Nicolaus Europe is acting as Nominated Adviser and Sole Private Placement Agent in connection with the Fundraise.