Surface Transforms (GB:SCE) has released an update.
Surface Transforms, a manufacturer of carbon-ceramic automotive brake discs, has announced a fundraising effort through a Placing and Subscription to raise £6.5 million, alongside an Open Offer to potentially bring in an additional £2 million. The fundraising, which offers shares at a significant discount, is aimed at meeting immediate working capital needs and supporting the company’s scale-up in manufacturing to meet a robust customer pipeline. The Board has also made amendments to the Open Offer timetable and disclosed related party transactions involving directorial and PDMR share interests.
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