17th Jun 2026 12:36
Frontier IP Group PLC - London-based company focused on commercialising intellectual property - Raises gross proceeds of approximately GBP3.9 million through a placing of 32.3 million shares at 12 pence each, and approximately GBP120,000 through a subscription for 1.0 million shares. Placing comprises 6.9 million firm placing shares and 25.4 million conditional placing shares. Gross proceeds total approximately GBP4.0 million. Six directors participated in the subscription, including Chief Executive Officer Neil Crabb, who subscribed for 583,333 shares worth GBP70,000, and Non-Executive Chair Julia King, who subscribed for 177,750 shares worth GBP21,330. Frontier IP is also conducting a separate conditional retail offer to raise up to approximately GBP400,000 before expenses. Expects this to close on Thursday evening. Company announced the placing, subscription and retail offer on Tuesday, saying it was "at an important inflexion point". Intended uses for the proceeds include "near-term milestones and portfolio realisations," continued development of its SC2 facility, and "selectively" supporting portfolio companies.
CEO Crabb comments: "This fundraising will support Frontier IP in delivering on the significant value we see in our maturing portfolio. We were very pleased to receive support from a wide range of existing and new investors in a challenging market."
Current stock price: 12.41 pence, down 27% on Wednesday in London
12-month change: down 44%
By Emma Curzon, Alliance News reporter
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