Surface Transforms (GB:SCE) has released an update.
Surface Transforms PLC has announced a fundraising initiative aiming to generate approximately £6.5 million through a Placing and Subscription, and up to an additional £2.0 million via an Open Offer to enhance working capital and support manufacturing scale-up. The Placing, executed through an accelerated bookbuild, will offer 650,000,000 New Ordinary Shares at 1 pence each, reflecting a substantial discount of 66% from the previous closing price. The net proceeds will primarily address immediate capital needs, with any excess from the Open Offer providing further financial headroom.
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