StockMarketWire.com - Symphony Environmental Technologies raised £750,000 from an equity subscription of 2.5 million shares at a premium.

The subscription price of 30 pence per share, representing a premium of approximately 13% to the closing price of 26.50 pence per share on 23 September 2021.

In addition, 2.5 million warrants had been granted to Vincel - owned by Shruti Lohia, daughter of Mr S P Lohia, the Chairman of Indorama Corporation, Singapore - at an exercise price of 40 pence per ordinary share and would be exercisable for six months from completion of the subscription.

Upon completion of the Subscription, Vincel would own a 14.8% stake in the company.

'The proceeds of the subscription will be used for ongoing working capital purposes and Symphony's continuing development and investment in a range of core complementary technologies,' the company said.








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