LONDON (Alliance News) - Amphion Innovations PLC on Friday said it has raised GBP1.5 million in a discounted share issue to provide working capital and funding for its partner companies.
The company, which invests in medical and technology businesses, said it has raised GBP1.5 million via the issue of 29.3 million shares at 5.25 pence per share. Amphion shares were down 24% to 6.625 pence on Friday morning, one of the worst performers in the AIM All-Share.
The placing was handled by Northland Capital Partners and the issue price was at a 22.4% discount to Amphion's ten-day average closing price.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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