Placing and WRAP Retail Offer
MedPal AI Plc has conditionally raised approximately £527,000 through a placing of 21,080,000 new ordinary shares at 2.5 pence per share, a 13% discount to the previous day's closing price. The company is also conducting a separate WRAP retail offer. Proceeds from both will fund working capital for pharmacy operations, enabling increased stock levels and a wider range, and support a digital marketing campaign for MedPal.clinic. Following admission of the placing shares, expected around March 26, 2026, the total number of ordinary shares with voting rights will be 476,234,640.
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MedPal AI (AIM: MPAL, FRA: Z1N) the UK digital health and AI company, is pleased to announce that it has conditionally raised approximately £527,000 ("Placing") by way of the issue of 21,080,000 new ordinary shares ("Placing Shares") at a price of 2.5 pence per share ("Placing Price"). The Placing Price represents a 13% discount to the closing mid-price of the Company's ordinary shares on 19 March 2026.
The Company is also offering new ordinary shares to investors via a WRAP retail offer, which will be announced separately.
The proceeds from the Placing and the WRAP retail offer (together the "Fundraise") will be used to provide working capital for the Company's pharmacy operations to enable it to carry both higher levels and a wider range of stock to meet rising customer demand and also to fund a digital marketing campaign for MedPal.clinic.
The Placing is conditional on the Placing Shares, which will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, being admitted to trading on AIM ("Admission"). Admission of the Placing Shares is expected to occur on or around 26 March 2026.
Total voting rights
Immediately following Admission and excluding any shares to be issued subject to the WRAP, the Company will have 476,234,640 Ordinary Shares in issue. Accordingly, the total number of Ordinary Shares in the Company with voting rights will be 476,234,640. This figure may be used by shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The Directors of the Company are responsible for the contents of this announcement.
| MedPal AI plc Jason Drummond | www.medpalplc.com |
| Cairn Financial Advisers LLP Louise O'Driscoll/Jo Turner | +44(0) 20 7213 0880 |
| Clear Capital Markets Limited Bob Roberts | +44(0) 20 3869 6080 |
| Winterflood Retail Access Platform Sophia Bechev, Kaitlan Billings | WRAP@winterflood.com +44(0) 20 3100 0214 |
The Company's LEI is 984500EDP8B0A14CBA61.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.