LightwaveRF Raises GBP2.5 Million Via Share Placing And Subscription (ALLISS)

LONDON (Alliance News) - LightwaveRF PLC on Friday said it raised GBP2.5 million via share placing and subscription of both a firm and conditional basis.

The smart home solution provider issued 29.4 million shares in a placing and subscription at 8.5 pence each.

LightwaveRF shares were trading down 2.4% at 8.78 pence each.

A total of 4.4 million shares have been placed under firm placing, thereby raising approximately GBP370,000 and a further 7.1 million have been placed with existing and new investors raising a further GBP600,000.

Furthermore, a total of 6.3 million shares have been issued under subscription raising GBP540,000 and 11.6 million under conditional subscription raising GBP990,000.

A meeting of shareholders will be held on March 19 to vote on the conditional issue.

The shares placed under firm placing and subscription are expected to be admitted to trading on Wednesday, while the conditional ones, if approved, no later than March 29.