Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I've been thinking about the £31.5m fundraise back in July and the recent ABB collaboration.
At the time of the funding I was unsure of just why we needed to raise so much (although pleased that we were and also that we did manage to raise it) I maybe way off track but AB has been in talks with ABB since February, I'm wondering if it became obvious to AB that we needed to provide to ABB a bit more Cash security in order to close the deal with ABB.
Just a thought.
Frank Muehlon of ABB
"The charging systems could also be used to power marine and vertical take-off and landing (VTOL) craft as electrification continues to permeate the aviation and marine industries"
https://m.marketscreener.com/quote/stock/AFC-ENERGY-PLC-4006915/news/AFC-Energy-and-ABB-Partner-to-Power-Up-the-Future-of-Clean-EV-Charging-32023409/
I notice that there was a buy trade earlier in the day about 12.18pm of 184,767 at 16.95 then two late sell trades one of 50,000 and the one of 134,767 that you refer to, I was just wondering if someone bought on the hope of good news.
Afraid not my buy was at 12.3 was going to top up yesterday at 10.3 but could only buy 15,000 for most of the day, today I had my finger ready to buy 50,000 at 9.2 but was called away and just got back and the price is back up.
That's how it goes sometimes.
25% Discount Fundraise.
I've been looking at the latest fundraise and trying to make sense of the discount given. These are just my thoughts and I may be way off the mark so please take this with a pinch of salt.
April to May the sp was around 15p
May to June the sp reached over 30p
June to July the sp went from 30p down to 21p at the time of the placing on the 30th June.
I can only guess as to when the talks for the fundraise would have started with the investors but it could have taken about 6 weeks (especially during covid-19) so about the middle of May, at that time the sp had been around 17p to 22p. Then it then rose to above 30p before dropping back over a period of 3 weeks to 21.5p at the time of the placing.
The placing may have been agreed when the price was around the 18p mark, so at about a 10% Discount much less of a discount than it ended up being at the time of the announcement which was a 25% Discount. As the sp rose to above 30p it needed to fall back down to an acceptable level which took 3 weeks.
In summary although a 25% Discount at the time of the placing is a lot, it must be very difficult to have an 8% to 10% Discount when the share price moves at such a pace. It could have easily been almost 50% Discount when the sp was at 30p.
In consideration of everything I believe that AFC have done a very good job with this fund raise.