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BREAKING: Another £70m AIM disaster as ETX announces plans to delist as it completes £28.9 million fund raise

By Tom Winnifrith, the Sheriff of AIM | Wednesday 10 April 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

AIM can brush off shitty little companies with no cash delisting as being a merely cyclical episode of bear market blues. However, following news that £70 million RedX Pharma (REDX) was to delist and go private there is another bombshell today. ETX Therapeutics (ETX) has announced that it is raising £28.9 million at 15p, a premium of 2.5p to last night’s close but that is conditional on it delisting too.
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