RE: SP and Sentiment Damage12 Sep 2022 12:52
("Tekcapital" or the "Company")
Placing to raise £2 million (c.US$2.5m)
Tekcapital plc, (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products from investing in university technologies that can improve the quality of life, announces that it has raised a total of £ 2 million (c.US$2.5m) before expenses, in an oversubscribed placing from existing and new shareholders, by way of the issue of, in aggregate, 8,000,000 new ordinary shares of 0.4 pence each in the Company (the "Ordinary Shares"), at 25 pence per share (the "Placing Shares") (together, the "Placing").
The net proceeds of the Placing will primarily be used to accelerate the growth of the Company's portfolio companies. The Placing was undertaken by the Company's broker SP Angel Corporate Finance LLP.