MedPal AI raises another £0.38m through ATM facility
By Josh White
Date: Friday 16 Jan 2026
(Sharecast News) - MedPal AI said in an update on Friday that it has raised a further £0.38m in gross proceeds through its at-the-market equity issuance facility, issuing 6.2 million new ordinary shares at an average price of 6.11p per share.
The AIM-traded digital health and artificial intelligence company said the funds would provide additional working capital for its recently established online pharmaceutical subsidiary, MedPal Limited.
It said the proceeds would be used to increase stock levels, expand product lines and support marketing activity across MedPal Pharmacy and Medpal.clinic as the group looked to grow its pharmacy and clinic operations.
Following the latest issue, MedPal AI had now raised a total of £0.88m through the ATM facility, which allows the company to raise up to £2m subject to a minimum issue price of 5p per share.
"We are delighted with the success of the ATM facility, which is performing exceptionally well, closing a further tranche at market price with no discount," said founder and chief executive Jason Drummond.
"This demonstrates strong investor confidence in MedPal AI's growth strategy.
"The funds raised will enable us to continue driving the business forward as we deliver month-on-month growth in both revenues and orders across our app, pharmacy and clinic operations."
The company said an application had been made for the new shares to be admitted to trading on AIM, with admission expected to become effective and dealings to commence on or around 22 January.
Following admission, MedPal AI's issued share capital would comprise 433,599,640 ordinary shares, each carrying one voting right, with no shares held in treasury.
At 1214 GMT, shares in MedPal AI were down 2.97% at 5.82p.
Reporting by Josh White for Sharecast.com.
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