10th Mar 2016 09:47
LONDON (Alliance News) - Deltex Medical Group PLC on Thursday said it has raised GBP516,000 through a placing and issued shares to advisers instead of cash fees.
The company, which makes oesophageal Doppler monitoring technology, said it has placed 12.9 million shares at 4.0 pence per share. Shares in Deltex were up 7.6% to 4.17p on Thursday morning.
The funds will be used for working capital purposes and to back an acceleration of its product roll-out in the US.
In addition, the company has issued a further 1.6 million shares at the same price to certain advisers to covers fees owed.
By Sam Unsted; [email protected]; @SamUAtAlliance
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