Radiation tech company Kromek has raised £1.14m from shareholders - its second fundraise in a month - to counter supply chain struggles.
The Sedgefield firm, a leading developer of radiation and bio-detection technology solutions, said it has completed the fundraise through the issue of convertible loan notes to existing shareholders in the company. In a stock market note the firm said the proceeds will be used to provide additional working capital to mitigate against any potential future supply chain issues.
This new fundraising brings the total of new funds raised via convertible loan notes to £2.84m, following the fundraising of £1.7m announced on August 5. The loan notes have a term of 18 months, with the company having the option to extend the loan notes by three months, are senior in ranking and unsecured.
