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LONDON (Alliance News) - Directa Plus PLC on Wednesday said it intends to raise up to GBP4.0 million via a share placing and open offer.
The company, which manufactures graphene-based products, will place a minimum of 6.0 million new shares at 50 pence each, to raise GBP3.0 million. The placement will be conducted by way of an accelerated bookbuild with Cantor Fitzgerald Europe and N+1 Singer Advisory LLP acting as joint brokers.
Directa Plus shares were untraded at 50.0p each on Wednesday at midday.
The company said it will use the placing proceeds to increase investment to drive growth in its "rapidly expanding markets". It will also use the funds to build sales and marketing reach, develop new products and exploit commercial opportunities, it said.
Furthermore, after closing the placing, Directa Plus intends to launch an open offer of shares for up to GBP1.0 million at the same issue price.
Any proceed raised in the open offer will be used to further support the company's strategy as well as for general working capital purposes, Directa added.
