Eden Research PLC - Oxfordshire, England-based company focused on sustainable biopesticides and plastic-free formulation technology - Will issue 6.1 million new shares at a price of 6.5 pence each after closing its retail offer. As a result, alongside 13.9 million firm placing shares, 3.0 million firm subscription shares, a total of 23.0 million new shares will be issued in relation to the placing, subscription and retail offer, raising total gross proceeds of £1.5 million. Admission is expected on Thursday morning.
On Friday last week, Eden Research announced two equity raises and one proposed retail offer, totalling up to £9.0 million, alongside a potential further £2.0 million, to fund materials to build up stocks for its new seed treatment. It said it also conditionally raised a minimum of £7.9 million via a placing of 121.5 million new shares at the same price, with the potential to raise a further £1.5 million via a second admission.
Current stock price: 6.72p, up 7.5%
12-month change: up 82%
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