By Devika Patel
Knoxville, Tenn., April 29 - Zenergy Power plc said it raised £9.5 million in a private placement of stock.
The company sold 7,916,667 ordinary shares at 120p apiece.
The deal was arranged by Panmure Gordon & Co. and Mirabaud Securities LLP.
Proceeds will be used to provide additional working capital to the company.
London-based Zenergy Power is a manufacturer of high-temperature superconductive materials.
| Issuer: | Zenergy Power plc
|
| Issue: | Ordinary shares
|
| Amount: | £9.5 million
|
| Shares: | 7,916,667
|
| Price: | 120p
|
| Agent: | Panmure Gordon & Co. and Mirabaud Securities LLP
|
| Settlement date: | April 29
|
| Stock symbol: | London: ZEN
|
| Stock price: | 134p at close April 29
|
| Market capitalization: | £57.2 million
|
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