LONDON - EMV Capital PLC (AIM: EMVC), a venture capital investment group specializing in deep technology and life sciences, announced a retail offer on Tuesday to raise up to £620,000. The offer is part of a broader fundraising initiative that includes a direct subscription aimed at raising an additional £880,000 before expenses.
The company is offering up to 1,240,000 new ordinary shares at a price of £0.50 each through the Winterflood Retail Access Platform (WRAP). This retail offer is available to existing shareholders and certain categories of sophisticated investors, with a minimum subscription of £100 per investor.
The issue price of £0.50 per share represents a 15% premium over the mid-market closing price of an ordinary share as of Monday. If fully subscribed, the combined proceeds from the retail offer and the subscription will amount to approximately £1.5 million.
The funds raised through this offer will be utilized in the same manner as the subscription proceeds, with the specific usage of funds detailed in a separate announcement made earlier today. The offer is not part of the subscription, but its completion is contingent upon the successful completion of the subscription.
The new ordinary shares are expected to be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG), with trading anticipated to commence at 8:00 a.m. on or around December 9, 2024.
Eligible shareholders interested in the WRAP Retail Offer must act quickly, as the offer is set to close at 4:30 p.m. on Wednesday. Financial intermediaries may impose earlier deadlines, and the company reserves the right to scale back orders or reject applications without explanation.
Investors are advised that once an application is accepted, it cannot be withdrawn. The new shares will rank equally with existing shares, including rights to dividends and other distributions.
The retail offer is restricted to the United Kingdom (TADAWUL:4280) and is exempt from the requirement to publish a prospectus under section 86(1)(e) of the Financial Services and Markets Act 2000 (FSMA).
Potential investors are encouraged to conduct their own due diligence and are reminded of the inherent risks associated with equity investments. The value of investments can fluctuate, and professional advice is recommended for those unsure about the risks involved.
This news article is based on a press release statement from EMV Capital PLC.
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