DG Innovate plc (LON:DGI), the advanced research and development company developing pioneering solutions in sustainable mobility and energy storage, has announced that it has conditionally raised £786,500 (before expenses), pursuant to a placing of 786,500,000 new ordinary shares of 0.01p each at a placing price of 0.10 pence per ordinary share, with certain institutional and other investors.
The Placing was cornerstoned by Norway’s largest financial services group, DNB ASA, which will hold 4.89% of the Company’s enlarged issued ordinary share capital on admission of the Placing Shares. The Placing was substantially oversubscribed, with the Placing Shares broadly representing the remaining Ordinary Shares available to be placed by the Company under the FCA’s Prospectus Regulation Rules without having to issue a prospectus.
