Aptamer Group Raises £2M Through Discounted Placing
Why we think this is bad
The significantly discounted 21.1% raise, representing 25.1% dilution, is a very negative sign indicating low investor appetite and confidence in the company's prospects. While the funds will support the company's ongoing operations and development, the large discount and potential ongoing funding risks are concerning, especially for a micro-cap company.
Key Points
- Aptamer Group raises £2.0 million through a discounted share placing
- The placing price of 0.3p represents a 21.1% discount to the previous closing price of 0.38p
- The new shares issued represent 25.1% dilution for existing shareholders
- Proceeds will be used to support the company's ongoing operations and development activities
Summary
Aptamer Group PLC has raised £2.0 million (before expenses) through a placing of new ordinary shares at 0.3p per share, representing a 21.1% discount to the previous closing price of 0.38p. The placing comprises a firm placing of 400.4 million shares and a conditional placing of 266.2 million shares, totaling 666.7 million new shares or 25.1% of the enlarged share capital. The company plans to use the proceeds to accelerate the commercialization of its Optimer® technology, further develop its IP portfolio, and advance its licensing pipeline.