CAP-XX raises £1.75m to fund licence agreements
By Iain Gilbert
Date: Monday 05 Nov 2018
(Sharecast News) - AIM-listed supercapacitor manufacturer CAP-XX has raised £1.75m by way of a subscription of 20.58m ordinary shares as part of an effort to boost sales and ink further licencing agreements.
CAP-XX said proceeds from its placing at 8.5p per share, an 8% discount to its closing price on Friday, would be used to increase product sales and to complete additional licence agreements.
The London-based group told investors the subscription shares will rank in full for all dividends and other distributions declared, made or paid in respect of its ordinary shares.
CAP-XX said its new shares were expected to be admitted to trading on AIM at 0800 GMT on 9 November, at which time the enlarged share capital of the company will be 323.75m ordinary shares.
Chief executive Anthony Kongats, said: "We are delighted to receive continued support from our institutional shareholders in supporting this funding round which will accelerate the expansion of our direct sales channels for supercapacitors alongside sales through our growing portfolio of licences."
As of 1100 GMT, CAP-XX shares had slipped 0.54% to 9.20p.
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