Creo Medical Group PLC (AIM:CREO) said it has raised more than it had expected to from the share-placing tranche of its fundraiser.
The over-subscribed offer of stock at 20p per share brought in £28.5mln, £3.5mln more than was initially expected. After fees, this equates to £26.8mln, which will be used to propel the group towards profitability as well as being invested in product development.
Creo, which has developed devices used in surgical endoscopy, has also launched an open offer of shares which could bring in as much as an additional £5.2mln.