Pennant International Announces Strategic Fundraising Effort

Pennant International (GB:PEN) has released an update.

Pennant International Group PLC aims to raise a minimum of £1.51 million through a Placing, Subscription, and possible Directors’ Intended Subscription to fund further development and marketing of its proprietary software suite. The fundraising comes as the company transitions towards software and services, moving away from manufacturing and hardware, with an integrated software suite launch expected by year-end. The net proceeds will support working capital and software development, with an issue price representing a 16% discount to the recent closing market price.

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