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(Alliance News) - Provexis PLC on Friday said it has raised GBP50,000 through the placing of 6.7 million shares at 0.75 pence each.
The placing price represents a 7.4% discount to the Thursday closing price of 0.81p. Shares in the food technology company were trading 3.7% higher at 0.84 pence each on Friday morning in London.
This fundraise comes after Provexis in December raised GBP1.0 million through the placing of 133.3 million shares at 0.75p each.
The Reading-based company stated it will use the total amount raised to support its international growth plans as it highlighted a new production run for its Fruitflow+ Omega-3 heart-health dietary supplement product is in the process of being commissioned.
Provexis noted a director intends to participate in the placing through the subscription for 1.67 million shares for a total of GBP12,500 but did not disclose the name of the director.
By Ife Taiwo; ifetaiwo@alliancenews.com
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