IQE (IQE): MACOM investment and fundraising
This situation live
IQE IQE
27 Apr 2026 · Announced; bookbuild, retail offer and clearances pending · −19% until the next step
The Fundraising is conditional, inter alia, on the passing of resolutions by shareholders of the Company (the "Fundraising Resolutions") at a general meeting of IQE to be held at the offices of White
27 Apr 2026 · Retail offer launched; conditional on Placing and shareholder vote · −19% until the next step
The RetailBook Offer is conditional, inter alia, on completion of the Placing, on the passing of resolutions by shareholders of the Company in connection with the Fundraising at a general meeting of I
28 Apr 2026 · Placing and Retail Offer closed; awaiting vote and approvals · +18% until the next step
The Fundraising is conditional, inter alia, on the passing of resolutions by shareholders of the Company (the "Fundraising Resolutions") at a general meeting of IQE to be held at the offices of White
28 May 2026 · Fundraise announced; completion pending · +3% until the next step
The fundraise included a £45m strategic investment from MACOM Technology Solutions Inc. ("MACOM") in the form of £30m of equity and £15m in new non-interest bearing convertible loan notes.
7 Sep 2026 · Proceeds received; net cash £30.2m · −28% since
Cash and cash equivalents of £41.6m as at 30 June 2026, with adjusted net cash of £30.2m (H1 2025: adjusted net debt of £23.5m) following the conclusion of the Group's strategic review and receipt of
MACOM investment and fundraising
Proceeds received; net cash £30.2m
Every step · 5
- 27 Apr 2026 Announced; bookbuild, retail offer and clearances pending – The Fundraising is conditional, inter alia, on the passing of resolutions by shareholders of the Company (the "Fundraising Resolutions") at a general... ↗
- 27 Apr 2026 Retail offer launched; conditional on Placing and shareholder vote – The RetailBook Offer is conditional, inter alia, on completion of the Placing, on the passing of resolutions by shareholders of the Company in connection... ↗
- 28 Apr 2026 Placing and Retail Offer closed; awaiting vote and approvals – The Fundraising is conditional, inter alia, on the passing of resolutions by shareholders of the Company (the "Fundraising Resolutions") at a general... ↗
- 28 May 2026 Fundraise announced; completion pending – The fundraise included a £45m strategic investment from MACOM Technology Solutions Inc. ("MACOM") in the form of £30m of equity and £15m in new non-interest... ↗
- 7 Sep 2026 Proceeds received; net cash £30.2m – Cash and cash equivalents of £41.6m as at 30 June 2026, with adjusted net cash of £30.2m (H1 2025: adjusted net debt of £23.5m) following the conclusion of... ↗
What is happening
IQE: MACOM investment and fundraising – Proceeds received; net cash £30.2m. ['Proceeds received; net cash £30.2m']
- In short
- The strategic review ended in April 2026 with MACOM investing in IQE through an £81m package at 19.8p, a 58.4% discount to the prior close. The H1 results, dated 7 Sep 2026, say fundraising proceeds were received. At 30 June 2026 IQE had cash of £41.6m and adjusted net cash of £30.2m, against net debt of £23.5m a year earlier.
- Announced
- 27 Apr 2026 · Announced; bookbuild, retail offer and clearances pending
- Latest
- 7 Sep 2026 · Proceeds received; net cash £30.2m
- MACOM
- £45m: £30m equity and £15m non-interest bearing convertible loan notes
- Noteholders
- £23m redemption and reinvestment of convertible loan notes
- Placing and Retail
- £13m at 19.8p, a 58.4% discount to the 47.6p close
- Board
- MACOM's Robert Dennehy and David O'Carroll nominated as Non-executive Directors
- Conditions
- Shareholder vote and approvals outstanding
- Status
- Proceeds received by 30 June 2026
- Cash
- £41.6m cash; adjusted net cash £30.2m at 30 June 2026
- Prior year
- Adjusted net debt £23.5m at H1 2025
From the company's own announcements. Not investment advice.
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Upgrade / downgrade cycleGuidance upgrades – Guidance reconfirmed after H1 beat
OverhangRichard Griffiths selling down – 11.55% → 3% in 2 notices
Balance-sheet stress / refinancingHSBC covenant and liquidity – Bank-debt free, cash £41.6m at 30 June · closed
Sale process / strategic reviewStrategic review and sale process – Review concluded; whole-Group sale talks terminated · closed
Takeover targetOffer for the company – offer · closed
IQE – company page →