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Intelligent Ultrasnd Group Plc raises £5.2 million through a placing of 49,400,000 ordinary shares

1 min read | April 18, 2020 03:10 AM BST | By Team Kalkine Media
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Intelligent Ultrasnd Group Plc (LON:MED) has informed about a Placing to raise £5.2 million.

  • The company, before the deduction of fees and expenses, has raised an amount of £5.2 million, by the conditional issue of 49,400,000 ordinary shares.
  • The placing has been made at a price of 10.5 pence per Ordinary Share to new and existing institutional and other investors.
  • The company will be using the net proceeds of £4.8 million from the placing to complete the initial development work on the next ScanNav products and to develop a new neonate simulator.

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