DG Innovate plc (LON: DGI), the advanced research and development company developing pioneering solutions in sustainable mobility and energy storage, has announced a proposed Fundraising, comprising a Placing, a Retail Offer and, potentially a Directors’ Intended Subscription, to raise up to an aggregate of £850,000 (before expenses) through the issue of new Ordinary Shares, assuming full take-up of the Retail Offer and completion of the Directors’ Intended Subscription. The proposed Issue Price is 0.075 pence per Ordinary Share.
Cavendish has acted as sole bookrunner to the Placing.
Transaction Highlights
· The Company has conditionally raised gross proceeds of £550,000 pursuant to the Placing with new and existing investors.
· Certain of the Company’s management team also intend to subscribe for, in aggregate, £200,000 through the issue of the Directors’ Subscription Shares at the Issue Price. As the Company is currently in a closed period under UK MAR until the publication of the 2024 Interim Results, the Directors and senior management are not permitted to deal in the Company’s Ordinary Shares until after publication of the 2024 Interim Results (and subject to each not being in possession of any other unpublished price sensitive information at such time).
