NuCana prices 10.8M ADSs at 64.54c in registered direct offering

NuCana (NCNA) has priced a registered direct offering consisting of 10,845,985 American Depository Shares, or ADSs, with each ADS accompanied by a Series A warrant to purchase one ADS at an initial exercise price of $0.8068 per share and a Series B Warrant to purchase one ADS at an initial exercise price of $1.61 per share. The combined public offering price of each ADS together with the accompanying Series A and Series B Warrants is $0.6454, and the combined offering price of each pre-funded warrant together with the accompanying Series A and Series B warrants is $0.6454, minus the United States dollar equivalent of GBP 0.01, based on the exchange rate on the date of pricing. The gross proceeds of the offering are expected to be approximately $7 million before deducting placement agent fees and offering expenses and are expected to be used to fund activities relating to the advancement of our drug discovery and development programs, and for other general corporate purposes, including, but not limited to, working capital, capital expenditures, investments, acquisitions, should we choose to pursue any, and collaborations. The closing of the offering is expected to occur on or about May 7, 2025, subject to the satisfaction of customary closing conditions. Laidlaw & Company is acting as the sole placement agent for the offering.