Future Funding requirements5 Mar 2024 15:50
As at 22/9/22 CIZ had sufficient funding for about 18 months (Date of Prospectus) which takes us up to 21/3/24 approx. See page 6 of the prospectus.
12/6/23 they raised £350,000 and extended the E3Fund SP facility for £500,000 to 8 December 2024 at a higher fixed price of 2.1p.
Equating to 23,809,524 new Ordinary Shares Or 6.5% shares in issue.
Is it enough funding for the momentum needed to get this to market as things stand ? (Not including the CDT shares available for CIZ to sell currently at $2.70 far lower than the $10 issue price)
Will there be a drawdown on the E3 Fund SP facility end of March or April ? Will it be one full drawdown or in tranches of £100,000 ?
If it is in £100,000 tranches or 4,761,905 shares it is below the 3% TR1 threshold.