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Trackwise raises £11m in share issue, plans £1m additional fundraise
StockMarketWire.com
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Technology company Trackwise Designs has raised £11 million through a share issue, it announced this morning.
The Alternative Investment Market-listed company listed 5.5 million new shares, which it said would help finance increased manufacturing capacity meet growing demand for its products.
In addition, Trackwise said it planned to issue approximately 502,000 new shares to raise another £1 million.
Philip Johnston, CEO of Trackwise, said: 'It has been a transformational 12 months for Trackwise, and the recent major agreement with an electric vehicle [EV] manufacturer demonstrates the significant traction our Improved Harness Technology is gaining in the market.
'We are delighted by the support shown by new and existing investors, providing us with the means to deliver against our growing pipeline of revenue opportunities across our primary target markets of EV, medical and aerospace, thereby maximising our long-term growth.'
At 8:57am: (LON:TWD) Trackwise Designs Plc Ord 4p share price was 0p at 290p
Story provided by StockMarketWire.com
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