28th Sep 2020 19:34
Falanx Group Ltd - cyber security and strategic intelligence services firm - Plans to raise around GBP1.3 million through issue of 125.0 million shares at a price of 1.0 pence per share, through a placing for which Stifel Nicolaus Europe Ltd will act as sole broker and bookrunner.
Proceeds from fundraise will go towards working capital purposes, bolstering company's balance sheet and expanding the cybersecurity platform Triarii. Falanx expects proceeds to provide enough working capital in uncertain environment for next 12 months.
Current stock price: 1.18 pence
Year-to-date change: down 6.3%
By Dayo Laniyan; [email protected]
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