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Highlights
- Successful Fundraising: EMV Capital raises £1.5 million through an oversubscribed Subscription and Retail Offer at £0.50 per share.
- Related Party Participation: Non-Executive Chair Charles Spicer and Executive Director Ed Hooper participated via their pensions, purchasing a combined 220,000 shares.
- Expanded Subscription: Additional demand increased Subscription proceeds to £932,752, surpassing the initial £880,000 target.
EMV Capital plc (LSE:EMVC), a leading deeptech and life sciences venture capital investment group, has announced the successful closure of its Retail Offer and Fundraising, raising gross proceeds of £1.5 million. The fundraising involved the issuance of 3,000,000 new shares at £0.50 per share, reflecting strong investor demand.
Fundraising Breakdown
The total gross proceeds were split between the Subscription, which raised £932,752, and the Retail Offer, which contributed £567,248. The Subscription saw an increase from the initially announced £880,000 to £932,752 after the company received an additional subscription for 105,504 shares, raising an extra £52,752.
A total of 3,000,000 New Shares will be issued, comprising 1,865,504 shares from the Subscription and 1,134,496 shares from the Retail Offer. The strong investor interest highlights confidence in EMV Capital's focus on the rapidly growing deeptech and life sciences sectors.
Related Party Transactions
As part of the Retail Offer, Non-Executive Chair Charles Spicer and Executive Director Ed Hooper participated via their Self-Invested Personal Pensions. They subscribed for 40,000 and 180,000 New Shares, respectively, at the Issue Price of £0.50 per share.
This participation is categorized as a related party transaction under Rule 13 of the AIM Rules for Companies, given their positions as directors of EMV Capital. The transaction demonstrates their continued confidence in the company's growth trajectory and strategic outlook.
Strategic Outlook
The successful fundraising enables EMV Capital to bolster its investments in deeptech and life sciences innovations.
