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Intelligent Ultrasound To Raise GBP6.5 Million For Scannav Products

August 08, 2019 / Alliance News

Intelligent Ultrasound Group PLC said Thursday that it launched a placing to raise GBP6.3 million through the issue of 62.5 million shares. The shares placed are available to new and existing investors and are priced at 10 pence each. This price is equal to the intelligent ultrasound software company's closing price of 10p on Wednesday. The company is also aiming to raise an additional GBP250,000 through an open offer to qualifying shareholders via the issue of up to 2.5 million shares at the same price as the placing. The proceeds of the placing and open offer will be used to complete the development and launch of the group's sonography products, Scannav, and for general working capital.