Avacta Group plc (GB:AVCT) has released an update.
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Avacta Group PLC has issued 5.93 million new ordinary shares to settle a quarterly payment on its unsecured convertible bond, reducing the principal by £2.55 million. This move aligns with the company’s strategy to focus on drug development activities while exploring financing options such as divestment of its Diagnostics Division and a potential NASDAQ listing. The new shares will be traded on AIM, increasing its total share capital to over 369 million.
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