Tekcapital PLC - UK intellectual property investment company - Raises GBP380,000 through the issue of 4.8 million shares at 8 pence each. Placing price represents 8.6% discount to Monday closing price of 8.75p, with placing shares representing around 5.4% of its existing shares.
Says will use new cash to increase its investment in portfolio company Guident, committing up to USD350,000 to facilitate the design and production of its new regenerative shock absorbers for road testing by two listed automotive companies. Will also use commit up to USD150,000, supporting investee Salarius for sales and product support for B2B sales of MicroSalt in Mexico.
Following admission, Tekcapital will have 92.8 million shares in issue.
Current stock price: 9.58 pence
Year-to-date change: up 82%
By Ife Taiwo; ifetaiwo@alliancenews.com
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TekCapital (TEK)