(Alliance New) – RUA Life Sciences PLC on Friday said it has raised GBP4.4 million through a placing, subscription and retail offer.
On Friday, the Glasgow-based medical technology holding company said it has raised GBP310,000 through a retail offer of 2.8 million shares priced at 11 pence each.
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Shares in RUA were down 0.5% to 11.10p each on Friday morning in London.
Earlier in December, RUA said it had raised GBP4.0 million the placing of 36.4 million new shares at 11 pence per share. It raised GBP80,000 from directors intending to subscribe for another 727,272 shares.
At the time, it said it was planning on raising a further GBP 750,000 through a retail offer.
Chair Bill Brown said: “Following our change of strategy, the funds will be targeted at accelerating growth within contract manufacturing; strengthening the company’s balance sheet to aid the commercialisation phase of its research & development projects within the company’s vascular graft.”
By Sophie Rose, Alliance News senior reporter
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