LONDON (Alliance News) - DeepMatter Group PLC on Monday said it raised GBP4.0 million via oversubscribed share placing to support its DigitalGlassware platform.
DigitalGlassware is DeepMatter's main product. It allows chemistry experiments to be recorded and entered into a shared cloud database.
The company placed 159.2 million shares at 2.5 pence each, a 12% discount to the company's share price on December 19, the day before the placing was first announced.
DeepMatter shares were trading down 15% at 3.50p on Monday afternoon.
In December, the company said it was planning to raise GBP3.0 million in the placing.
"We are delighted to be be oversubscribed in our placing and would like to thank both our existing and new shareholders for the support they have shown in the group and its DigitalGlassware platform," Chief Executive Officer Mark Warne said.
Admission to trading on AIM is expected on March 13, after which the company will have 735.5 million shares in issue.
