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Tekmar Group PLC on Monday announced a retail offer through a bookbuild to raise up to £1.0 million from the issue of 11.1 million new shares at 9 pence each. Last week, the Darlington, England-based provider of technology and services for global offshore energy markets announced a separate investment by SCF-IX LP and Steve Lockard via a subscription for 47.5 million shares at the issue price to raise £4.3 million, as well as a convertible loan note of up to £18 million. It also announced a placing of new ordinary shares via an accelerated bookbuild with existing institutional investors to raise up to £7.3 million. On Monday, it clarified that the retail offer was not part of the placing, and that completion of the placing is not conditional on the completion of the retail offer. Tekmar shares were trading 5.9% higher at 9.00p each in London on Monday afternoon. The company has a market capitalisation of £5.5 million. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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