Agent Seymour Pierce assists; proceeds fund technology investments
By Devika Patel
Knoxville, Tenn., Nov. 8 - Fusion IP plc said it completed a £5.01 million private placement of shares through agent Seymour Pierce Ltd.
The company sold 17,885,000 ordinary shares at 28p each, a 27.27% discount to the Nov. 7 closing share price of 38.5p.
Proceeds will be used to invest in technology originating from Cardiff and Sheffield Universities and provide medium term working capital.
The technology company is based in Sheffield, England.
| Issuer: | Fusion IP plc
|
| Issue: | Ordinary shares
|
| Amount: | £5,007,800
|
| Shares: | 17,885,000
|
| Price: | 28p
|
| Warrants: | No
|
| Agent: | Seymour Pierce Ltd.
|
| Settlement date: | Nov. 8
|
| Stock symbol: | London: FIP
|
| Stock price: | 40p at close Nov. 8
|
| Market capitalization: | £25 million
|
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