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SkinBioTherapeutics bags £3m at a modest discount

Published 17/11/2023, 08:34
Updated 17/11/2023, 09:11
SkinBioTherapeutics bags £3m at a modest discount

Proactive Investors - There are signs of life at the lower reaches of the market with SkinBioTherapeutics PLC (LON:SBTX) bagging £3 million before expenses via a placing of new stock with investors.

As eye-catching as this was - a small-cap receiving a much-need and comparatively substantial cash infusion from the equity market - the sale price of the new shares also caused followers to sit up.

After some horrendous discounts applied to fundraisers to get them away, it was a relief to see SkinBio had to drop the price by less than 10% to get its cash call away.

Shares in the group, which is developing skin health products, were off 2% at 21p - a purely technical markdown.

Read more on Proactive Investors UK

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