2nd Aug 2023 17:25
Eden Research PLC - Oxfordshire, England-based company focused on sustainable biopesticides and plastic-free formulation technology - Will issue 6.1 million new shares at a price of 6.5 pence each after closing its retail offer. As a result, alongside 13.9 million firm placing shares, 3.0 million firm subscription shares, a total of 23.0 million new shares will be issued in relation to the placing, subscription and retail offer, raising total gross proceeds of GBP1.5 million. Admission is expected on Thursday morning.
On Friday last week, Eden Research announced two equity raises and one proposed retail offer, totalling up to GBP9.0 million, alongside a potential further GBP2.0 million, to fund materials to build up stocks for its new seed treatment. It said it also conditionally raised a minimum of GBP7.9 million via a placing of 121.5 million new shares at the same price, with the potential to raise a further GBP1.5 million via a second admission.
Current stock price: 6.72p, up 7.5%
12-month change: up 82%
By Greg Rosenvinge, Alliance News reporter
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