Tekcapital Shares Slump 15% Following Deeply Discounted Share Placing

Key Facts

1Tekcapital shares fell over 15% to 2.45p following the announcement of a new fundraise.

2The company raised £550,000 by issuing 24 million new shares at 2.25p each, representing a 22% discount to the previous close.

Tekcapital shares fell over 15% to 2.45p following the announcement of a new fundraise. Reuters reported that the company raised £550,000 by issuing 24 million new shares at a price of 2.25p each.

The placement price represents a 22% discount to the previous closing price, with the new shares accounting for approximately 9% of the company's enlarged capital. Tekcapital intends to use the proceeds for working capital as its portfolio companies, including Guident and MicroSalt, continue their operational growth.