Diagnostics instruments group Osmetech has announced a placing to raise £9.8m gross at 2.05p per share, representing 41.6% of the existing share capital.
The proceeds will be used for working capital to allow the group to continue developing its molecular diagnostics business.
At 30 October, its cash balance stood at about £1.83m.
Osmetech says it continues to explore listing on another exchange, including Nasdaq, to raise the company's profile among investors and liquidity.
Story provided by Business Financial Newswire
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