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Eqtech launches discounted equity placing to raise up to £15m
StockMarketWire.com
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Gasification technology company Eqtech detailed plans to raise up to approximately £15 million gross through the placing of shares and subscriptions at a discount.
The placing included a placing of shares at a fixed price of 1.5 pence per share to institutional and other investors; an offer for subscription of up to 200,000,000 shares via PrimaryBid and a direct subscription with the Company of up to 287,666,665 shares.
The issue price of 1.5 pence represented a discount of approximately 11.24% to the closing mid-market price of the company's shares on 27 May 2021.
The proceeds from the fundraising would be used to support the company's growth model, acceleration of progress in existing markets, entry into new markets, the company said.
At 8:28am: (LON:EQT) Eqtec Plc Ord Eur0.001 share price was 0p at 0.51p
Story provided by StockMarketWire.com
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