BSF Enterprise PLC (LSE:BSFA), the tissue-engineered materials developer, saw its shares fall 31% to 2.17p after announcing a placing of 25 million new shares at 2p apiece to raise £500,000 before expenses.
The fundraise, arranged by Bowsprit Partners, is conditional on shareholder approval at a forthcoming general meeting and admission to the main market, expected on or around 12 June 2026.
The company said proceeds would be used to reinforce its strategic business and growth plans, with the possibility of significant growth in shareholder value throughout 2026.
Bowsprit Partners will receive 1.5 million warrants exercisable at 2p per share within three years of admission as a fee for arranging the placing.
BSF develops and commercialises tissue-engineered materials, using its proprietary scaffold-free ATEP platform to produce lab-grown leather, cultivated meat and corneal repair technologies.
The company targets global markets where sustainability and ethical provenance are increasingly valued, offering high-performance alternatives to conventional materials for consumers and brands alike.
Year to date, the stock is up 14%.
