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Advanced Oncotherapy raises £7.7m through equity fundraise
StockMarketWire.com
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Advanced Oncotherapy, a developer of proton therapy systems for cancer treatment, said it had raised £7.7 million through a direct equity subscription.
Certain clients of SI Capital and other investors subscribed to purchase 25,735,000 shares at a price of 30 pence a share, representing a 13% discount to the average closing middle market price of a share over the past 30-day period, the company said.
'The funds raised from the subscription will further strengthen the company's balance sheet and contribute to the funding for progressing the assembly, documentation, verification and validation activities in order to ensure Advanced Oncotherapy's first LIGHT system is fully operational with a 230MeV beam in 2021,' it added.
Story provided by StockMarketWire.com
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