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LONDON - EnergyPathways plc (AIM:EPP), an energy transition company, has secured an additional £125,000 through a private placing and subscription with long-term existing shareholders, according to a press release issued Tuesday.
The additional fundraise follows the company's previously announced placing and subscription of approximately £1,238,000 on Monday. The new capital was raised through the issuance of 2,083,332 new ordinary shares at a price of 6 pence per share.
Investors in the additional fundraise will receive one warrant for each share purchased, with warrants carrying an exercise price of 9 pence and expiring two years after the shares' admission to trading on AIM. The warrants include an acceleration clause requiring holders to exercise or forfeit them if the company's share price exceeds 12 pence over a specified period.
EnergyPathways has also agreed to issue 83,332 new ordinary shares as commission for assistance with arranging the additional fundraise, along with 8,333 warrants.
Proceeds will fund pre-development activities for the company's flagship MESH project, as announced on Monday. Admission of the new shares to trading on AIM is expected around October 27, 2025.
Following admission of all new shares, EnergyPathways will have 223,121,407 ordinary shares in issue.
CEO Ben Clube stated in the press release that the company was "pleased to have completed this Additional Fundraise with existing long-term shareholders to raise further funds to deliver near-term workstreams."
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