Cientifica said that the company wanted to raise around £300,000 - £400,000 ($500,000 - $650,000) of new equity capital, but due to difficult market conditions, this action failed (they shares were offered at a small discount to the current mid market price).
Cientifica's board said it will consider a possible fundraising in conjunction with a suitable investment opportunity later this year. It's not surprising that the company needs more funds - when the company floated in in October 2013, it raised only $289,000 (net) - and this will hardly be enough as the company aims to acquire and build businesses that make use of graphene materials
In February 2014 Cientifica signed an exclusivity agreement with London Graphene to develop technology using graphene for energy storage (capacitors and batteries). We interviewed Cientifica's CEO a few months ago and he explains the company's business model and goals.
