Amphion Innovations (LON:AMP), the developer of medical and technology businesses, has raised £1.54mln through a placing of shares at 5.25p each.
The placing was oversubscribed and follows a good run for the shares that has seen them rise from 6p at the end of last week to 8.75p last night.
The net proceeds of the placing will provide working capital for the company, as well as enable it to invest in companies that comprise its investment portfolio, restructure its existing debt, and support DataTern's patent litigation programmes.
In all, the company has issued 29.3mln shares, representing around 14.91% of the company’s enlarged issued share capital.