Nuformix Raises £13,200 Through Warrant Exercise
Why we think this is bad
The 54.55% discount to the previous closing price is a very large discount, indicating low market confidence in Nuformix. While the warrant exercise provides a small amount of additional capital, it does not address any underlying business or financial issues, and the dilution to existing shareholders is a negative factor. As a micro-cap company, the significant discount is a concerning sign of potential funding difficulties.
Key Points
- Nuformix raises £13,200 through exercise of broker warrants
- 26,400,000 new shares issued at 0.05 pence per share
- 54.55% discount to previous closing price of 0.10999999940395355 pence
Summary
Nuformix plc has announced the exercise of broker warrants to subscribe for a total of 26,400,000 new ordinary shares at a price of 0.05 pence per share, raising £13,200 for the company. The new shares will represent a 1.56% dilution to existing shareholders. The large 54.55% discount to the previous closing price of 0.10999999940395355 pence per share is a concerning sign of low market confidence in the company.