- This topic has 1 reply, 2 voices, and was last updated October 6, 2022 at 1:31 pm by
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Company has announced a £10m fundraise at 2.85p. This is hugely disappointing given the potential non-dilutive options that I felt were available and the refusal of the board to accept any external input
There are some positives to take away:
Removes the uncertainty over funding which should allow the market to focus on fundamental valuation
Raise done at the market price and not a discount though had communications been better a couple of weeks ago we feel the raise price could have been higher and limited the dilution
£5m of the raise is exactly as anticipated in our forecasts, and at a similar price (2.85p vs. 3p) but will cover what appears to be a more ambitious growth plan with the US hires. An additional £5m of has been raised to fund investment in a new platform that had been mooted but the investment and returns on which had not been included in forecasts until clarified
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