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IN BRIEF: Itaconix Raises GBP1.8 Million Via Placing And Subscription

Wed, 24th Jun 2020 16:18

Itaconix PLC - specialty polymers firm - Raises GBP1.8 million through oversubscribed placing of 149.8 million shares at price of 1.1 pence each, and subscription of 10.2 million shares at same issue price. Proceeds will go towards funding costs associated with the commercial development of the company's portfolio of core products at least until the third quarter of 2021. N+1 Singer and Allenby Capital Ltd acted as joint bookrunners. Itaconix now has 429.1 million shares issued overall.

Current stock price: 1.27 pence

Year-to-date change: down 22%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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