Saietta Group plc (LON:SED), the multi-national business which designs, engineers and manufactures complete electric drivetrain (eDrive) solutions for electric vehicles, has stated that, further to its announcement of 5:45p.m. on 27 November 2023, it has conditionally completed the Bookbuild which is now closed, and a Subscription of new Ordinary Shares by certain of the Company’s Directors and other investors.
Pursuant to the Placing and the Subscription, the Company has conditionally placed, in aggregate, 39,649,604 new Ordinary Shares, raising proceeds of approximately £6.7 million (before expenses) at an Issue Price of 17 pence per share, reflecting a 17 per cent discount to the closing price on 24 November 2023, being the last business day prior to the announcement of the Fundraising.