REG - Polarean Imaging PLC - Posting of Circular

Polarean ImagingAnnouncement

23/05/2024 07:00

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RNS Number : 5299P  Polarean Imaging PLC  23 May 2024

23 May 2024

 

Polarean Imaging plc

("Polarean" or the "Company")

 

Posting of Circular

 

Polarean Imaging plc (AIM: POLX), a commercial-stage medical device leader in
advanced Magnetic Resonance Imaging ("MRI") of lung function, is pleased to
confirm that, further to its announcement on 22 May 2024 of the successful
Placing and Subscription to raise US$10 million (£8 million), the circular
setting out, amongst other things, details of the Open Offer (the "Circular")
has been posted today.

 

The Open Offer is for up to approximately 200 million New Ordinary Shares at 1
pence per New Ordinary Share to raise up to £2 million (US$2.5 million),
which will provide Qualifying Shareholders with the opportunity to subscribe
for New Ordinary Shares on the basis of:

 

9 Open Offer Shares for every 10 Existing Ordinary Shares held on the Record
Date, at a price of 1 pence per Open Offer share

 

Further details of the Open Offer and the terms and conditions on which it is
being made, including the procedure for application and payment, will be
contained in the Circular, extracts of which were contained in the
announcement on 21 May 2024 and which is expected to be posted to Shareholders
later today. The Circular will also be available on the Company's website
later today:
https://www.polarean-ir.com/content/investors/shareholder-information
(https://www.polarean-ir.com/content/investors/shareholder-information) .

 

Capitalised terms used but not otherwise defined in the text of this
announcement shall have the meaning given to them in the Company's
announcement on 21 May 2024.

 

Enquiries:

 

 Polarean Imaging plc                                  www.polarean.com / www.polarean-ir.com
 Christopher von Jako, PhD, Chief Executive Officer    Via Walbrook PR

 Charles Osborne, Chief Financial Officer

 Stifel Nicolaus Europe Limited (NOMAD and Sole Corporate Broker)                         +44 (0)20 7710 7600
 Nicholas Moore / Samira Essebiyea / Kate Hanshaw (Healthcare Investment
 Banking)
 Nick Harland / Ben Good (Corporate Broking)
 Walbrook PR                                           Tel: +44 (0)20 7933 8780 or polarean@walbrookpr.com
 Anna Dunphy / Phillip Marriage                        Mob: +44 (0)7876 741 001 / +44 (0)7867 984 082

 

About Polarean

 

Polarean is a revenue-generating medical imaging technology company
revolutionizing pulmonary medicine through direct visualization of lung
function by introducing the power and safety of MRI to the respiratory
healthcare community. This community is in desperate need of modern solutions
to accurately assess lung function. The Company strives to optimize lung
health and prevent avoidable loss by illuminating hidden disease, addressing
the global unmet medical needs of more than 500 million patients worldwide
suffering from chronic respiratory disease. Polarean is a leader in the field
of hyperpolarization science and has successfully developed the first and only
hyperpolarized Xenon MRI inhaled contrast agent, XENOVIEW™, which is now
FDA-approved in the United States. Polarean is dedicated to researching,
developing, and commercialising innovative imaging solutions with its
non-invasive and radiation-free pulmonary functional MRI platform. This
comprehensive drug-device platform encompasses the proprietary Xenon gas
blend, gas hyperpolarization system, as well as software and accessories,
facilitating fully integrated modern respiratory imaging operations. Founded
in 2012, with offices in Durham, NC, and London, United Kingdom, Polarean is
committed to increasing global awareness of and broad access to its XENOVIEW
MRI technology platform. For the latest news and information about Polarean,
please visit www.polarean.com (http://www.polarean.com) .

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