nanosynth group PLC - Nottingham, England-based digital monitoring and safeguarding systems manufacturer formerly known as Remote Monitored Systems - Raises GBP2.9 million through a subscription for 535.0 million shares at an issue price of 0.55 pence per share by institutional investor Lanstead Capital Investors LP. The issue price represents a 21% premium to its closing price on Thursday. The shares will equal 22% of nanosynth's enlarged share capital. The proceeds will be pledged to Lanstead in a sharing agreement. nanosynth will receive this money back from Lanstead through monthly settlements over a 24-month period. The payments are subject to upwards or downwards adjustment each month, depending on its share price at the time. nanosynth says the agreement provides it with the opportunity to benefit from a positive future share price performance.
Current stock price: 0.47 pence, up 3.5% on Friday
12-month change: down 43%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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