Result of WRAP Retail Offer & Notice of GM
EnSilica's WRAP Retail Offer raised £0.3m and total fundraise reached £5.2m, subject to shareholder approval.
- Total fundraise £5.2m
- WRAP Retail Offer proceeds £0.3m
- Placing and Subscription proceeds £4.9m
- First tranche completed £3.8m
- WRAP Retail Offer shares issued 666,589 shares
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On 24 May 2024 EnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), announced that it has conditionally raised approximately £4.9 million pursuant to a Placing and Subscription and separately launched the WRAP Retail Offer to existing shareholders of the Company.
The WRAP Retail Offer closed at 4.00 p.m. yesterday, 29 May 2024, and the Directors are pleased to announce that it was oversubscribed and demand has therefore been scaled back to within the previously set maximum of £0.3 million. Therefore, after pro rata scaleback to all applications and roundings, and subject to the passing of certain Resolutions at the forthcoming General Meeting (as detailed below), the WRAP Retail Offer will result in the issue of a total of 666,589 WRAP Retail Offer Shares at the Issue Price, conditionally raising gross proceeds of approximately £0.3 million. As a result, the Company has conditionally raised a total of approximately £5.2 million pursuant to the Placing, Subscription and the WRAP Retail Offer (together, the "Fundraise").
Notice of General Meeting and posting of Circular
The first tranche of the Fundraise, with gross proceeds of approximately £3.8 million, completed on 28 May 2024. Completion of the WRAP Retail Offer and the Second Placing are subject to, inter alia, the passing of certain Resolutions at a General Meeting of the Company on 17 June 2024 to enable the allotment of new Ordinary Shares pursuant to the Second Placing and the WRAP Retail Offer.
The Company will today post a Circular to Shareholders containing details of the Fundraise and the notice of General Meeting to be held on 17 June 2024. A copy of the Circular will be available on the Company's website later today at www.ensilica.com.
Admission to AIM
Application has been made to the London Stock Exchange plc for the 3,131,708 new Ordinary Shares to be issued pursuant to the Second Placing and the WRAP Retail Offer to be admitted to trading on AIM and, subject to the passing of the Resolutions, it is expected that such Admission will become effective and dealings in such new Ordinary Shares will commence on AIM at 8.00 a.m. on 19 June 2024.
Terms used but not defined in this announcement have the same meaning as set out in the Company's announcement released at 4.47pm on 23 May 2024.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.