Quadrise Plc (LON:QED), the supplier of innovative energy solutions for a cleaner planet, is pleased to announce a retail offer via the BookBuild Platform to raise gross proceeds of up to £1 million through the issue of new ordinary shares of £0.01 each in the capital of the Company.
Under the Retail Offer up to 33,333,333 new Ordinary Shares will be made available at a price of 3 pence per Retail Offer Share, although, the amount to be raised pursuant to the Retail Offer may be appropriately increased with additional demand.
In addition to the Retail Offer, and as announced by the Company earlier today, the Company has conditionally raised gross proceeds of £4.53 million by way of an upsized and oversubscribed placing of £4.50 million and £0.03 million through a direct subscription by certain Directors of the Company at the Issue Price.
A separate announcement was released by the Company on 23 January 2025 which sets out the terms of the Placing and the Subscription together with the reasons for the Placing and the Subscription and the use of proceeds. The net proceeds of the Retail Offer will be utilised for product and business development, equipment purchases and to strengthen the Company’s balance sheet.
