Shares of Rosslyn Data Technologies PLC (AIM:RDT) plummeted 51% after the company announced a heavily discounted stock offering and a potentially dilutive convertible debt deal.
The data analytics group raised £1.64 million through the sale of 32.7 million shares at 5 pence per share. The stock closed on Tuesday at 11p.
In addition, Rosslyn issued £1.2 million in convertible loan notes, which could further water down existing investors.
The company also launched a retail offer aimed at raising an additional £250,000, which will close on October 10.
In early trading, Rosslyn shares were changing hands for 5.76p..