By Samuel Indyk
Investing.com – In response to media speculation, Omega Diagnostics Group Plc (LON:ODX) has confirmed that it has received conditional investor support for an equity fundraising.
The AIM-listed diagnostics company said it has support for the fundraising at 5 pence per share, an almost 50% discount to Wednesday’s closing price.
The company added it is considering undertaking the share placing to raise approximately £5 million with an accompanying open offer to raise up to a further £2 million.
The potential fundraising would be conditional upon certain corporate actions being explored by the group and, accordingly, there is no certainty at this time that any such fundraise would proceed.
Back on January 19th, Omega said there was no “short term need” to raise additional capital, however, by 31st January the company had confirmed that it was in discussions with investors and shareholders regarding a potential equity fundraising.
At 14:36GMT, shares in Omega Diagnostics were trading lower by 26.8% at 7.42 pence per share.