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LONDON - MedPal AI Plc (AIM:MPAL) has completed a placing of new ordinary shares to raise £400,000, according to a company press release issued Wednesday.
The digital health platform is issuing the shares at 8p each, representing a 5.9 percent discount to the mid-market closing price on September 30. The company expects the placing shares to be admitted to trading on AIM on October 8.
The funds will support MedPal AI’s strategy following its recently announced acquisition of assets from Universal Pharmacy Ltd, which is in administration. This acquisition aims to establish the company in the GLP-1 agonist market for obesity treatment, including medications such as semaglutide.
MedPal AI stated that the placing is separate from a WRAP Retail Offer that the company plans to launch shortly, which will be announced separately.
The placing is conditional on the admission of the shares to trading on AIM. The company noted in its press release that the announcement contains inside information under Article 7 of EU Regulation 596/2014, which forms part of UK law through the European Union (Withdrawal) Act 2018.
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