Quadrise Fuels' Mike Kirk welcomes strong investor demand in recent fundraise
This week the firm announced a £1.8mln open offer for existing shareholders and a further subscription for around £0.7mln.
The open offer, which will be fully underwritten by broker Peel Hunt, will allow current shareholders to buy one share for every 20 they own at an offer price of 3.96p apiece.
In total Quadrise has raised gross cash of around £4.5mln, which Kirk says potentially should take them through to the end of 2020.
He adds that the new funds will allow them to convert the multiple opportunities they've created this year into trial projects and commercial deals.
Quick facts: Quadrise Fuels International PLC
Market Cap: £38.77 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of Quadrise Fuels International PLC named herein, including the promotion by the Company of Quadrise Fuels International PLC in any Content on the...FOR OUR FULL DISCLAIMER CLICK HERE