Haydale has announced that, further to its previous announcement on plans to raise funds, it has successfully completed the Fundraising which is now closed.
The Fundraising has successfully raised in aggregate £3 million (around USD$3.9 million). This comprises £2.5 million (about USD$3.25 million) raised through the Placing and Subscription of New Ordinary Shares, and the rest was raised through subscriptions for Convertible Loan Notes from Octopus Investments.
In addition to the Placing, Subscription and Convertible Loan Notes the Company has also announced that it is providing Retail Investors with the opportunity to subscribe for an aggregate of Retail Shares, to raise up to an additional £0.5 million (around USD$650,000) before expenses. The results of the Retail Offer will be announced separately.
As set out in the Launch Announcement, the net funds raised by the Fundraising will be used to fund the general working capital needs of the business.