Business
Close of Fundraising and Result of Retail Offer
Close of Fundraising and Result of Retail Offer.
About this update from Emv Capital Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, OUTSIDE OF THE UK.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF THE LAWS OF ENGLAND AND WALES PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (UK MAR). UPON PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE WITHIN THE PUBLIC DOMAIN.\n \n5 December 2024\n \nEMV Capital plc\n(\"EMVC\" or the \"Company\")\n \nClose of oversubscribed Fundraising\nand\nResult of WRAP Retail Offer\n \nEMV Capital plc (AIM: EMVC), the deeptech and life sciences VC investment group, is pleased to announce, further to the announcements made on 3 December 2024, the closing of the Retail Offer and the final result of its oversubscribed Fundraising at the Issue Price of £0.50 pence per New Share. The Company has raised aggregate gross proceeds of £1.5 million, of which £932,752 was raised pursuant to the Subscription and £567,248 was raised pursuant to the Retail Offer.\nAccordingly, the Company will issue a total of 3,000,000 New Shares at the Issue Price (1,865,504 pursuant to the Subscription and 1,134,496 pursuant to the Retail Offer). Terms defined in the Company's announcement of the Fundraising have the same meanings in this announcement.\nThe gross proceeds of the Subscription increased from £880,000 as announced on 3 December 2024 to £932,752 following the Company's receipt of a further subscription for 105,504 New Shares at the Issue Price (raising additional proceeds of £52,752).\nDr Ilian Iliev, CEO of EMV Capital and Investment Director of Q-Bot, commented:\n\"We are pleased to close our oversubscribed fundraising, at a notable premium in this difficult macro-economic climate where we are aware of many other fundraisings being at a substantial discount. This has been possible due to EMV Capital Partners and its introduction of supportive existing and qualifying new investors, many of whom frequently participate in the funding of our portfolio companies. I welcome our new shareholders, and we look forward to deploying the funds raised to develop the Company's growth strategy.\"\nRelated Party Transactions\nCharles Spicer (Non-Executive Chair) and Ed Hooper (Executive Director) have participated...