8th Oct 2014 06:52
LONDON (Alliance News) - Phorm Corp Ltd said Wednesday that it has raised GBP4.5 million through a placing of 5.9 million shares and subscription for 34.7 million shares, both at a price of 11 pence per new share.
Phorm's shares closed down 1.1% at 11 pence Tuesday.
The shares were placed by Mirabaud Securities LLP with some existing and new institutional and other investors. The subscription and placing shares will represent a 5.91% share of its enlarged issued share capital.
It plans to use the proceeds for general working capital purposes.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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Related Shares:
PHRM.L