24th Jun 2024 12:45
(Alliance News) - Belluscura PLC on Monday said it had raised GBP300,000 via a subscription by an unnamed investor and said demand for a proposed placing of convertible loan notes was strong.
The London-headquartered medical device developer said proceeds from the subscription, at 15 pence per share, would be used for working capital purposes.
Earlier this month, Belluscura announced plans to raise GBP2.4 million via a conditional placing of convertible loan notes.
On Monday, the company had received "significant interest in, and demand for," the proposed placing from new and existing investors and anticipates being able to provide an update as to final terms, including the issue size, shortly.
Shares in Belluscura jumped 11% to 16.66p in London on Monday.
By Jeremy Cutler, Alliance News reporter
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