Tiziana extends ADS sales agreement with ThinkEquity

Tiziana Life Sciences announced an extension to the current ‘at the market sales agreement’ with ThinkEquity, a division of Fordham Financial Management, on Friday.

The AIM-traded firm entered into the agreement with ThinkEquity as sales agent on 15 April, under which it could offer and sell through ThinkEquity American Depositary Shares (ADS).

It said each ADS represented five ordinary shares, having an aggregate offering price of up to $20m (£15.84m).

“The offering of ADSs pursuant to the offering agreement continues to run and will now terminate upon the earlier of the sale of all of the ADSs subject to the offering agreement, the termination of the offering agreement by ThinkEquity or the company, as permitted in accordance with its terms, or 31 July, unless extended,” the Tiziana board said in its statement.

At 0938 BST, shares in Tiziana Life Sciences were up 1.49% at 88.8p.