LONDON (Alliance News) - Drone maker Strat Aero PLC on Wednesday said it has raised further funds after seeing additional demand for its share placing last week.
The company raised GBP400,000 last week to back its product roll-out plans.
On Wednesday, Strat Aero said it had raised another GBP477,250 after placing a further 42.4 million shares at 1.125 pence per share, the same placing price as last week's transaction. Shares were down 7.3% to 1.27p on Wednesday.
"Following our fund raise announced last week, I am delighted to report that investors expressed the desire to provide further financial support in order to accelerate the optimisation of our business divisions and enhance financial and operational performance across all fronts," said Chairman Graham Peck.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
