Ilika raises £4.56m in placing, seeks another £0.5m through retail offer

(Sharecast News) - Ilika said on Friday that it had conditionally raised £4.56m through an oversubscribed placing and directors' subscription, and would seek up to a further £0.5m through a retail offer to existing UK retail shareholders. The AIM-traded solid-state battery developer said the shares were issued at 28p each, a 3.45% discount to Wednesday's closing price, with the proceeds to support the commercial rollout and scaling of its small-format Stereax technology and continued development of its larger-format Goliath platform towards licensing agreements.

Chief executive Graeme Purdy said the funding would support Stereax commercialisation, further optimise Goliath prototypes and fund equipment for its first Goliath product, adding that Stereax remained of "great interest" to active implantable medical device developers while Goliath had reached "an exciting intersection point" with defence-sector needs.

At 1324 BST, shares in Ilika were down 1.03% at 28.7p.

Reporting by Josh White for Sharecast.com.

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