Home Tech Allied Minds raises £64m for investment in tech

Allied Minds raises £64m for investment in tech

by Jonathan Adams

Science and technology investor Allied Minds has raised £64m in an equity placing to increase investment in its portfolio of businesses and fund a pipeline of emerging technologies. The company placed over 17.4m shares at 367p each and raised £64m through broker Credit Suisse Securities, which represent about 8.1% of its issued share capital before the placing.

Chief executive Chris Silva said: “The proceeds will further enable Allied Minds to invest alongside third parties in our portfolio of subsidiaries and to fund our pipeline of new technologies sourced from our academic, federal and corporate partners.

“The proceeds of the placing put Allied Minds in a strong position to capitalise on the opportunities in front of us and increase our financial flexibility as we seek to maximise value capture for our shareholders.”

Admission of the shares to the market is expected to be on 6 December, and after admission it will have a share capital of 233.7m with voting rights and none in treasury. Woodford Investment Management, a related party of the company, bought 4.1m shares for £15m.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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