Radiation tech firm Kromek has announced plans to tap up investors for up to £8m to plough into the business.
The Durham based business, which develops radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announced the conditional placing, subscription and open offer, which it hopes will bring in up to £8m before expenses. The placing has been undertaken with new and existing institutional investors in the company and Kromek directors are participating in the placing and directors’ subscription.
The move to raise funds includes a proposed placing and subscription to raise £7m through the issue of 140,000,000 placing shares to new and existing investors at 5p per placing share, and an open offer to raise up to approximately £1m through the issue of up to 20,564,372 open offer shares to qualifying shareholders at 5 per open offer share.
