Business
Private Placement for Belluscura to raise US$1.33m
Private Placement for Belluscura to raise US$1.33m.
About this update from Tekcapital Plc
[{"type":"text","content":"\n \nRNS Number : 8073E Tekcapital plc 14 February 2018 \n\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n14 February 2018\nTekcapital plc\n(\"Tekcapital\" or the \"Company\")\n \nPrivate Placement for Belluscura plc to raise US$1.33m\nTekcapital plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from university technology, is pleased to announce that Belluscura plc (\"Belluscura\") has concluded a private placement to raise approximately US$1.33m (the \"Private Placement\") through Dowgate Capital Stockbrokers and converted loans equal to approximately US$268k to equity under the same terms as the Private Placement.\nThis Private Placement was priced at US$0.18 (13p) per share, giving Belluscura a post-money valuation of approximately US$3.7m. Belluscura will extend the Private Placement for an additional 90 days to enable current shareholders and additional investors to participate.\nBelluscura was established in the UK in December 2015 to provide premium proprietary medical devices at affordable prices. It has already launched three products with two more products in development. The proceeds of the Private Placement will be used for further investment in Belluscura's products in development, specifically the CURV™ oxygen concentrator and Snap III™ level of consciousness monitor and for general working capital purposes. \nCommenting on the Private Placement, Bob Rauker, CEO of Belluscura, said: \"We are very pleased to announce this Private Placement. The funds will allow Belluscura to continue with its mission to provide premium, proprietary medical devices at affordable prices.\"\nTekcapital has invested $250,000 in the Private Placement and converted loans to Belluscura of $210,090 to equity under the same terms as the Private Placement. As a result, Tekcapital's ownership interest in Belluscura is now 8,129,488 shares, representing approximately 39% of the issued share capital. Under the terms of the Private Placement, Tekcapital was issued with a three-year warrant to purchase 1,273,078 new shares in Belluscura at 13p ...