Frontier IP Group plc is pleased to confirm, further to the announcement made earlier today, that it has raised net proceeds of £4.0 million through a Placing of 8,000,000 Placing Shares with certain existing and new institutional investors at a Placing Price of 50 pence per share.
The Placing Price represents a 9.9 per cent. discount to the Closing Price of 55.5 pence on 5 November 2019, the Business Day before the announcement of the Placing.
Neil Crabb, CEO of Frontier IP, commented:
“The success of this oversubscribed placing is a reflection of the continued progress of Frontier IP and our portfolio companies over the past year – as demonstrated by our excellent full-year results. The strength of our business model and the greater traction we are gaining with industry and academic partners is reflected in the support we have received from existing and new investors. We are now in a strong financial position and well placed to withstand any future market volatility.”
N+1 Singer acted as sole bookrunner to Frontier IP in connection with the Placing.
About Frontier IP Group plc
Frontier is a UK based specialist asset management group whose focus and purpose is to provide commercialisation services to assist universities and research organisations build high-value businesses from their intellectual property. In return, the Company receives equity.
Market Cap: £23.55 million*
Website: Click here
*As at 06/11/2019
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