Surface Transforms (GB:SCE) has released an update.
Surface Transforms PLC, a manufacturer of carbon-ceramic automotive brake discs, has announced a successful fundraising initiative, securing £6.5 million through the placement of shares and a subscription offer, along with an open offer aiming to raise an additional £2 million. The funds raised will be used for working capital, operational support, and manufacturing scale-up, addressing immediate financial needs to capitalize on a robust £700 million sales pipeline over the next few years. Despite recent fundraising, the company reassures shareholders of its strong customer base and growth potential, while acknowledging the need for improved manufacturing resilience.
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