Falanx Group Ltd - cyber security and strategic intelligence services firm - Raises GBP1.3 million through issue of 125.0 million shares at a price of 1.0 pence per share, through a placing for which Stifel Nicolaus Europe Ltd acted as sole broker and bookrunner.
Proceeds from fundraise will go towards working capital purposes, bolstering company's balance sheet and expanding the cybersecurity platform Triarii. Falanx expects proceeds to provide enough working capital in uncertain environment for next 12 months. Now has 517.9 million shares issued overall.
Current stock price: 1.03 pence
Year-to-date change: down 18%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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