Intelligent Ultrasound Group (IUG)

Sector:

Health Care

Index:

FTSE AIM All-Share

9.17p
   
  • Change Today:
    -0.58p
  • 52 Week High: 15.80
  • 52 Week Low: 6.95
  • Currency: UK Pounds
  • Shares Issued: 326.87m
  • Volume: 105,199
  • Market Cap: £29.96m
  • RiskGrade: 164

Intelligent Ultrasound raises £5.2m for balance sheet, working capital

By Josh White

Date: Friday 11 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Artificial intelligence (AI) ultrasound technology developer Intelligent Ultrasound announced the raising of £5.2m on Friday, to strengthen its balance sheet and provide working capital.
The AIM-traded firm said the funds were being raised through a placing and subscription of 42,504,112 placing shares and 13,712,108 subscription shares to new and existing institutional and other investors, at a price of 9.25p each.

It noted that the issue price equated to a nil discount to the closing mid-market price of 9.25p on Thursday, with the new shares to be issued representing 17.2% of the company's enlarged share capital.

The board said the net proceeds of £4.8m would be used to strengthen its balance sheet and provide additional working capital, including funding the ongoing development of its existing products.

Intelligent Ultrasound said the fundraising remained conditional on shareholder approval at a general meeting in Cardiff on 30 November.

"The directors are very pleased with the response to the oversubscribed fundraising and are thankful to the new and existing shareholders for their continued support," said chief executive officer Stuart Gall.

"The directors consider this to have been an excellent year and the Group remains on target to meet the market expectation of £10m revenue in 2022."

"With a strong simulation portfolio for 2023 and three clinical AI-related products launched in the market and generating early revenues, the board is confident that this fundraising will drive growth in sales that will take the group to profitability, as well as achieving the group's aspirational vision of £25m revenues by 2025, in what the directors believe is an exciting and dynamic market."

At 1122 GMT, shares in Intelligent Ultrasound Group were up 0.11% at 9.26p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

IUG Market Data

Currency UK Pounds
Share Price 9.17p
Change Today -0.58p
% Change -5.98 %
52 Week High 15.80
52 Week Low 6.95
Volume 105,199
Shares Issued 326.87m
Market Cap £29.96m
RiskGrade 164

IUG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
22.68% below the market average22.68% below the market average22.68% below the market average22.68% below the market average22.68% below the market average
13.33% below the sector average13.33% below the sector average13.33% below the sector average13.33% below the sector average13.33% below the sector average
Price Trend
5.71% below the market average5.71% below the market average5.71% below the market average5.71% below the market average5.71% below the market average
13.51% above the sector average13.51% above the sector average13.51% above the sector average13.51% above the sector average13.51% above the sector average
Income Not Available
Growth
33.76% above the market average33.76% above the market average33.76% above the market average33.76% above the market average33.76% above the market average
38.89% above the sector average38.89% above the sector average38.89% above the sector average38.89% above the sector average38.89% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IUG Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
09:28 49,769 @ 9.21p
09:03 13,217 @ 9.15p
08:26 5,150 @ 9.48p
08:26 10,512 @ 9.48p
08:25 1,541 @ 9.50p

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