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05 Nov 2018 | 08:49

CAP-XX raises £1.75m through placing

Supercapacitors manufacturer CAP-XX said Monday it had raised gross proceeds of £1.75m through the placing of shares in a bid to advance its strategy to increase product sales and to complete additional licence agreements.

Cap-XX placed 20,588,236 shares at a price of 8.5p a share, representing a discount of approximately 8% to the closing mid-market price on 2 November 2018. 'We are delighted to receive continued support from our institutional shareholders in supporting this funding round which will accelerate the expansion of our direct sales channels for supercapacitors alongside sales through our growing portfolio of licences,' said Anthony Kongats, Chief Executive of CAP-XX.

At 8:49am: (LON:CPX) CAPXX Ltd share price was -0.3p at 8.95p

Story provided by StockMarketWire.com
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