StockMarketWire.com - Specialty polymers supplier Itaconix said it planned to raise £1.1 million by way of direct subscription at a discount with a new institutional investor together with existing institutional shareholders

The company said it would issue and allot a total of 9,091,115 new ordinary shares at an issue price of 12.1 pence per share, representing a 3.2% discount to the closing share price on 8 June 2021 of 12.5 pence.

The proceeds of the fundraise would be used for general working capital purposes and new product development to further the company's commercial progress.






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