Provides platform to accelerate commercial strategy to drive mid-term revenue growth
IXICO plc (AIM: IXI), the digital technologies company serving neuroscience, is pleased to announce that it is proposing to raise £5.5 million (before commissions and expenses) through a conditional placing of 19,642,856 Placing Shares at 28 pence per new Ordinary Share. The Placing comprises 17,767,856 VCT Placing Shares and 1,875,000 Non-VCT Placing Shares.
The Placing was arranged by the Company’s broker, Shore Capital, as agent for the Company.
Giulio Cerroni, CEO of IXICO, commented:
“We are delighted with the investment we have received from new blue-chip institutions and IP Group, an existing shareholder. The oversubscribed Placing has raised £5.5 million and broadened our shareholder base. We welcome shareholders new to IXICO and we also thank our existing shareholders for their continued support, which reflects confidence both in our performance and strategy for future growth. Over the past 12 months, we have completed a strategic and operational review and announced contracts with existing and new global pharmaceutical customers, demonstrating commercial momentum. This funding provides the platform to accelerate our commercial strategy to drive revenue growth over the medium-term and our strong financial performance indicates that we are making good progress on our path to profitability.”