9th Jul 2021 11:45
(Alliance News) - Ilika PLC on Friday said it intends to raise up to GBP24.7 million through a placing, retail offer and open offer, which will go towards accelerating the company's Goliath technology, and support working capital needs.
The Hampshire-based solid state battery firm is looking to raise GBP18 million through a placing of 12.8 million shares at a price of 140 pence per share.
The retail offer comprises an offer for subscription of up to 2.7 million shares at the issue price via PrimaryBid, raising GBP3.0 million. Finally, there is the open offer, which will look to raise GBP3.7 million through the issue of 2.7 million shares to existing shareholders.
The issue price reflects a 30% discount to Thursday's closing price of 200.00 pence.
Shares in Ilika were 15% lower at 170.00 pence on Friday in London.
Proceeds from the share issue will go towards supporting the development of Ilika's solid-state electric vehicle pouch cells, through its Goliath programme until it exceeds lithium ion battery equivalence, targeted for December 2022.
Liberum Capital and Joh Berenberg & Co KG will act as joint bookrunners.
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Ilika Plc