Directa Plus PLC (AIM:DCTA, OTC:DTPKF) announced plans to raise £7mln in a share placing to help accelerate the development of its graphene-based products.
The placing is being executed via an accelerated bookbuild process targeting new and existing eligible institutional investors. It is being organised by Cenkos Securities and Singer Capital Markets.
“Directa Plus has made consistent progress towards its goal of commercialising its graphene products and processes with a high quality, growing roster of customers,” said Sir Peter Middleton, Directa Plus non-executive chairman.
“The fundraising will enable the company to accelerate that progress by providing funds for investment in what the board considers to be exciting opportunities.
“We look forward to beginning the next phase of growth."
In a statement, the company said that it is pleased with the level of indicative support for the equity raise though, as is customary, it noted that there can be no certainty at this time that the placing will be successful.