25th Oct 2018 12:59
LONDON (Alliance News) - Medical imaging technology company Feedback PLC said Thursday it raised GBP1.4 million via a placing and subscription of 91.7 million shares.
The company issued the shares at 1.5 pence each, a 12% discount to the closing mid-market price of 1.7p on Wednesday. Feedback shares were trading down 12% at 1.50p on Thursday afternoon.
Following admission, the new shares will represent 24.56% of the enlarged issued share capital of the company.
The company expects the first 55.5 million shares to be admitted to trading next Wednesday. The remaining shares from the subscription will be admitted on November 16, following shareholder approval at a general meeting on November 15.
Feedback said some of its directors subscribed for 6.9 million shares for a total of GBP104,000.
The company will use the funds raised to expansion its sales and marketing services as well as the development of technical product support Cadran product offerings.
Related Shares:
Feedback