new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your capital is at risk
4d pharma

Shares of pharmaceutical firm 4D Pharma (LON: DDDD) are up 9% on Monday after the company said it has now completed its merger with US investment firm Longevity Acquisition Corporation.

The “transformational milestone” has allowed the company to trade on the Nasdaq stock market under the ticker symbol ‘LBPS’. Longevity’s $14.8 million in cash is also now available to 4D.

Additionally, 4D said that gross proceeds from a private placement were now $25 over $25 million after Merk Sharp & Dohme Corp subscribed for 654,023 ordinary shares, raising an additional $1 million.

4D Pharma’s share price currently trades at 146p, up 9.36% from Friday’s close at 133.5p.

4D Pharma price chart

“The closing of 4D pharma's merger with Longevity represents a transformational milestone for the Company,” commented Duncan Peyton, Chief Executive Officer, 4D pharma.

“Becoming a dual-listed company both in the UK and the US broadens our global reach. In conjunction with the NASDAQ listing, the closing of the merger and concurrent fundraise give 4D pharma an additional $40 million of capital and puts the company in a very strong financial position to execute across our robust pipeline,” he added.

In connection with the merger, 4D has also issued new warrants convertible into ordinary shares, which, if exercised, would bring in an additional $29 million.

Should you invest in 4D Pharma shares? One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now…

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .