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Tekcapital PLC - London-based intellectual property investor focused on universities - Raises GBP3.0 million through oversubscribed placing from existing and new shareholders through the issue of 10.7 million shares at a price of 28 pence each.
Proceeds will go towards building inventory and progress product development for Lucyd, expand inventory for Salarius, and bolster the group's working capital.
Tekcapital now has 141.5 million shares issued overall.
"We are delighted with the support from existing and new shareholders in the placing which will contribute to the additional near term progress of our portfolio companies," says Executive Chair Clifford Gross.
Current stock price: 30.90 pence, down 10% on Wednesday
Year-to-date change: up 96%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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