Offering funds development of Genlec and Pnu Power, working capital
By Devika Patel
Knoxville, Tenn., Feb. 22 - Energetix Group plc said it settled a private placement of stock. The offering raised £2.5 million via agent Ambrian Partners Ltd.
The company sold 10 million shares at 25p each. The per-share price is a 24.24% discount to 33p, the Feb. 21 closing share price.
Proceeds will be used to accelerate the commercial development of both Genlec and Pnu Power and for general working capital.
The alternative energy solutions provider is based in Chester, England.
| Issuer: | Energetix Group plc
|
| Issue: | Ordinary shares
|
| Amount: | £2.5 million
|
| Shares: | 10 million
|
| Price: | 25p
|
| Warrants: | No
|
| Agent: | Ambrian Partners Ltd.
|
| Settlement date: | Feb. 22
|
| Stock symbol: | London: EGX
|
| Stock price: | 29.4p at close Feb. 22
|
| Market capitalization: | £15.95 million
|
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