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Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer - Plans to raise £16 million through a placing, subscription, and open offer for 42.2 million new shares at a price of 32 pence per share. Receives a strategic investment of £2.5 million by Everbrite Technology Co Ltd through a subscription. Adds that the open offer will raise £4 million through the offer 12.5 million new ordinary shares. Says the issue price represents a discount of 14% to the closing middle market price of 37 pence per share on February 22. Says that the proceeds from the proposed placing are expected to provide it with sufficient working capital to the end of June 2024. Current stock price: 38.00 pence 12-month change: down 55% Copyright 2023 Alliance News Limited. All Rights Reserved.
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