IN BRIEF: Belluscura raises GBP6 million in oversubscribed placing
13th May 2022 14:10
Belluscura PLC - London-based medical device developer - Increases the size of the GBP5 million placing that was announced on Thursday, as it was "significantly" oversubscribed. Raises GBP6 million through the placing of 7.1 million shares at 85 pence per share. Says the placing price represents a 15% discount to the closing mid-market price on Thursday. Says the placing shares represent roughly 6.2% of its existing share capital. Notes that Dowgate Capital Ltd acted as sole broker and bookrunner. Plans to use the proceeds to fund the purchase of raw material inventory and for manufacturing non-recurring engineering costs in connection to its recently announced global manufacturing deal with InnoMax Medical Technology Ltd. Read More