28th Oct 2015 17:45
LONDON (Alliance News) - Scientific Digital Imaging PLC said Wednesday it has agreed to acquire Sentek Ltd for GBP2 million, and has raised GBP2.5 million in an oversubscribed placing.
It has funded the acquisition in GBP600,000 cash, and GBP1.4 million from a new bridge facility.
The digital imaging technology company has raised GBP2.5 million through the placing of 31.3 million shares at a price of 8 pence each. Additionally, Chief Executive Mark Creedon intends Thursday to subscribe for 62.5 million shares at the same price.
Shares in Scientific Digital Imaging last closed at 8.75 pence.
These funds will be used to repay the bridge facility, with the remainder to be used as general working capital, and for transaction costs.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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