CAP-XX raises £2.75m in oversubscribed placing

1st Nov 2024 10:17

(Sharecast News) - CAP-XX announced on Friday that it has successfully raised £2.75m in an oversubscribed placing and subscription, ahead of expenses.

The AIM-traded company, which specialises in the design and production of thin, prismatic supercapacitors and energy management systems, said it issued 2,272,727,200 new shares at 0.11p each, facilitated by Allenby Capital.

It said the placing followed an accelerated bookbuild, and included an additional retail offer of up to 250 million shares via the RetailBook platform, open until 4 November, which could raise an extra £0.275m for working capital.

Admission of the first tranche of 363,983,965 placing shares to AIM was scheduled for 7 November.

A second tranche, conditional on the approval of resolutions at a general meeting on 5 December, was expected to start trading on AIM on 9 December.

Post-first admission, CAP-XX's total share count would stand at 3,357,210,402, with further announcements to follow on voting rights after the second tranche, subscription shares, and retail offer shares were issued.

At 0955 GMT, shares in CAP-XX were down 10% at 0.12p.

Reporting by Josh White for Sharecast.com.