leadf
logo-loader
viewFrontier IP Group PLC

Frontier IP raises £2.33mln through oversubscribed share placing

CEO Neil Crabb and non-executive director Mike Bourne participated in the share offer, with the former acquiring 54,545 shares, lifting his stake to 5.43%

Frontier IP Group PLC -

Frontier IP Group PLC (LON:FIPP), a specialist in commercialising intellectual property, has raised roughly £2.33mln through the issue of shares at 55p each.

The share placing and retail offer via the PrimaryBid platform were “comfortably oversubscribed”, the company said.

The intellectual property investor said it intends to use the funds raised to support the working capital needs of the business, including taking on more staff to increase the group’s capacity to provide commercialisation and development services for its portfolio companies.

Frontier IP said it also wants to “flex the company’s business model” to include bridge funding and direct participation in investment rounds of the companies in which it has stakes.

“The group and its portfolio have made highly encouraging progress over the past year, rising to meet the opportunities and challenges presented by COVID-19,” Neil Crabb, the chief executive officer of Frontier IP said in a statement.

“Several companies are now at important inflexion points in their development, having achieved significant commercial and technical advances. This fundraising gives us the wherewithal to respond flexibly and nimbly to the opportunities now emerging,” he added.

Crabb and non-executive director Mike Bourne participated in the share offer, with the former acquiring 54,545 shares, lifting his stake to 5.43%, while Bourne bought 55,000, raising his stake to 0.83%.


 

Quick facts: Frontier IP Group PLC

Price: 69.9 GBX

AIM:FIPP
Market: AIM
Market Cap: £38.45 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Frontier IP Group PLC named herein, including the promotion by the Company of Frontier IP Group PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Frontier IP Group teams up with University of Cambridge to tackle gum disease

Frontier IP Group PLC's (LON:FIPP) Neil Crabb discusses with Proactive London's Andrew Scott a new joint project between themselves and the University of Cambridge to tackle gum disease. The study's received a £52,891 grant from the National Biofilms Innovation Centre (NBIC). The...

on 19/6/20

2 min read