RE: RE: WOW4 Jul 2025 11:51
Thruvision Group PLC (AIM:THRU, OTC:DIGTF) shares are set to end the week in a stronger place than where they started it, with Friday bringing more news that appears to secure its future.
The ‘walk-through’ security camera tech company, which last month warned it could run out of cash in a matter of weeks as it ended a formal sales process, today announced it is raising at least £2.5 million of new capital.
It has conditionally raised £2.13 million in an oversubscribed placing, directors are chipping in £380,000, and a retail offer is expected to draw another £250,000.
Earlier this week, Thruvision also announced it had landed a new £1 million contract with a new governmental customer in Asia to take its order intake for the first quarter of the ‘2026’ financial year to £2.3 million (up 143% year-over-year).
Proceeds from the equity raise will ensure Thruvision’s cash runway for at least another 12 months, the company said on Friday.
Funds raised will specifically support working capital and enable investments in sales, marketing and product development.
Thruvision said it aims to achieve cash flow break-even during financial year 2027, based an assumption of annual revenue reaching £10 million.
Friday’s equity raise is priced at 1p per share, with some 212 million shares due to be issued (representing around 61% of the firm’s enlarged share capital).
A shareholder vote will be required to rubberstamp the raise, with a meeting slated for 28 July.
Thruvision also noted today that its strategic review process had now concluded, determining that continuing the business on a standalone basis (i.e. not selling the company or any of its subsidiaries) was the best option, subject to a successful fund raise.
Prior to Wednesday’s contract and Friday’s funding news, Thruvision stock was down some 90% in the year to date, priced at 0.9p.
In Friday’s trade, the shares were changing hands at around 1.19p.