DeepMatter Group PLC - Glasgow, Scotland-based digital chemistry data company - Raises GBP250,000 gross in an open offer of 250 million shares at 0.1 pence each, as planned. The open offer was announced on Christmas Eve, after DeepMatter had raised GBP2.6 million in a share placing with professional and institutional investors at the same price, which was at an 84% discount at the time. DeepMatter explained in December that it had only GBP400,000 in cash and required more to invest in customer acquisition. The placing shares represent 66.9% of the enlarged total.
The open offer was on the basis of 1 new shares for each 3.7 existing share held. Acceptances were received for 45.5 million shares, while the excess application facility was oversubscribed at 827.6 million shares and scaled back. The overall fundraise is conditional on approval by shareholders in general meeting on Thursday.
Current stock price: 0.32 pence, up 18% on Wednesday
12-month change: down 83%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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