WRAP Retail Offer
Built Cybernetics PLC is launching a WRAP Retail Offer to raise up to approximately £150,000 through the issuance of up to 10,000,000 new ordinary shares at 1.5 pence per share. This offer is in addition to a conditional fundraising of approximately £2.9 million via a placing and subscription at the same issue price. The net proceeds from the WRAP Retail Offer will be used similarly to those from the placing and subscription, which are detailed in a prior announcement regarding the proposed acquisition of Ecolibrium Inc. The WRAP Retail Offer is conditional on the completion of the placing and subscription and shareholder approval at a general meeting expected on November 2, 2026, with admission to AIM anticipated on November 4, 2026.
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Built Cybernetics (AIM: BUC), the AIM-quoted Smart Buildings and PropTech group, is pleased to announce a retail offer via the Winterflood Retail Access Platform (“WRAP”) to raise up to approximately £150,000 (the “WRAP Retail Offer”) through the issue of new ordinary shares of one penny each in the capital of the Company (“Ordinary Shares”). Under the WRAP Retail Offer up to 10,000,000 new Ordinary Shares (the “WRAP Retail Offer Shares”) will be made available at an issue price of 1.5 pence per share.
At 7:30 a.m. on 8 October 2026 (the “Launch Announcement”), Built Cybernetics announced, inter alia, that it had entered into a merger agreement (the “Merger Agreement”) pursuant to which it proposes to acquire Ecolibrium Inc. (“Ecolibrium”) by way of a reverse triangular merger under Delaware law (the “Acquisition”).
In addition to the WRAP Retail Offer and as announced today, inter alia, the Company has conditionally raised a total of approximately £2.9 million (before expenses) via a placing and a subscription (the “Placing and Subscription”) of new Ordinary Shares (the “Placing and Subscription Shares” and together with the WRAP Retail Offer Shares, the “New Ordinary Shares”) at a price of 1.5 pence per Placing and Subscription Share (the “Issue Price”). The issue price of the WRAP Retail Offer Shares is equal to the Issue Price.
The Launch Announcement provides further details regarding Ecolibrium, the Acquisition and various other matters and also sets out the terms and the use of proceeds for the Placing and Subscription. The net proceeds of the WRAP Retail Offer will be utilised in the same way as the net proceeds of the Placing and Subscription.
For the avoidance of doubt, the WRAP Retail Offer is not part of the Placing and Subscription. Completion of the WRAP Retail Offer is conditional upon, inter alia, the completion of the Placing and Subscription but completion of the Placing and Subscription is not conditional on the completion of the WRAP Retail Offer.
The issue of the WRAP Retail Offer Shares will be conditional upon, inter alia, the passing of certain resolutions (granting the Directors authority to issue and allot new ordinary shares otherwise than on a non-pre-emptive basis) to be put to shareholders of the Company at a general meeting of the Company which is expected to be held on 2 November 2026, whereby such authority will be utilised by the Directors to enable the issue of the WRAP Retail Offer Shares. The issue of the WRAP Retail Offer Shares will also be conditional upon the WRAP Retail Offer Shares being admitted to trading on AIM (“Admission”). It is anticipated that Admission will become effective and that dealings in the WRAP Retail Offer Shares will commence at 8:00 a.m. on 4 November 2026.
WRAP Retail Offer
Therefore, the Company is making the WRAP Retail Offer available to eligible investors in the United Kingdom following release of this announcement, being existing shareholders of Built Cybernetics plc, and through certain financial intermediaries.
The WRAP Retail Offer is expected to close at 4:30 p.m. on 12 October 2026. Eligible shareholders should note that financial intermediaries may have earlier closing times.
Retail brokers wishing to participate in the WRAP Retail Offer on behalf of existing retail shareholders, should contact wrap@marex.com.
There is a minimum subscription of £100 per investor under the WRAP Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.
No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the Financial Conduct Authority (or any other authority) in relation to the WRAP Retail Offer, and investors' commitments will be made solely on the basis of the information contained in this announcement and information that has been published by or on behalf of the Company prior to the date of this announcement by notification to a Regulatory Information Service in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, the Market Abuse Regulation (EU Regulation No. 596/2014) (“MAR”) and MAR as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended) (“UK MAR”).
| Investor Enquiries We encourage all investors to share questions on this announcement via our investor hub | https://builtcybernetics.com/link/y0V0Vr |
| Built Cybernetics plc Clive Carver, Chairman Nick Clark, Chief Executive | +44 (0)20 7843 3001 |
| Canaccord Genuity Limited , Nominated Adviser and Joint Broker Stuart Andrews Elizabeth Halley-Scott | +44 (0)20 7523 8000 |
| Allenby Capital Limited , Joint Broker Nick Naylor, Alex Brearley (Corporate Finance) Jos Pinnington, Lauren Wright (Sales and Corporate Broking) | +44 (0)20 3002 2073 |
| Winterflood Retail Access Platform Sophia Bechev, Kaitlan Billings | WRAP@marex.com +44 (0)20 7071 0488 |
The Company's LEI is 213800WWNHLPUBSUK220.
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Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.