Belluscura fundraises
By HME News Staff
Updated 11:33 AM CDT, Tue May 30, 2023
LONDON, and PLANO, Texas – Belluscura has raised gross proceeds of £3 million (approximately £2.7 million net of expenses) through the issue of 12 million new ordinary shares at the issue price of 25 pence per share. The company has also announced a retail offer to raise up to £0.5 million (before expenses) through the issue of new ordinary shares of 1 penny each in the share capital of the company. Under the retail offer, up to two million new ordinary shares will be made available at a price of 25 pence per retail offer share. "We have made significant progress over the last 12 months,” said Robert Rauker, CEO. “With the support of our investors through this additional funding, despite challenging market conditions, we now have the firepower to capitalize on the significant market opportunities that have been identified for Belluscura's market leading products." The net proceeds of the fundraising receivable by the company will be used principally to finalize the development of the DISCOV-R; to complete the pre-market evaluation and launch of the DISCOV-R; and for group working capital.
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