IN BRIEF: Symphony Environmental raises GBP1 million via subscription

Mon, 01st Aug 2022 21:20

Symphony Environmental Technologies PLC - Borehamwood, Hertfordshire-based plastics and rubber - Raises GBP1.0 million through an equity subscription for 5.6 million shares at a price of 18 pence per share by Sea Pearl Ventures Ltd.

Price reflects a 5% discount to the company's closing price on Friday at 19.00 pence.

Proceeds from the subscription will go towards working capital purposes and to strengthen its balance sheet.

Sea Pearl will also gain 4.0 million warrants at an exercise price of 25p each.

Current stock price: 16.80 pence, down 12% on Monday

12-month change: down 38%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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