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Quadrise increases retail offer due to high demand

Published 30/01/2025, 16:18
Quadrise increases retail offer due to high demand
QED
-6.69%

LONDON - Quadrise Plc (AIM:QED), a supplier of innovative energy solutions, has announced an increase in its retail share offer after significant oversubscription. The company, which focuses on delivering cleaner energy technologies, is expanding the number of Retail Offer Shares available to 66,666,666 at the Issue Price, with the potential to raise gross proceeds of up to £2 million.

This move follows the initial announcement on January 24, 2025, detailing the terms of the Retail Offer. The additional funds raised are earmarked for product and business development, equipment purchases, and to reinforce the company’s balance sheet.

The newly issued Ordinary Shares, along with Placing Shares and Subscription Shares, are to be allotted under the existing authorities granted at Quadrise’s annual general meeting on November 22, 2024, which included the dis-application of pre-emption rights.

The Retail Offer is separate from the Placing and Subscription, but its completion is contingent upon these and the admission of all shares to trading on the AIM market of the London Stock Exchange (LON:LSEG). The Placing and Subscription are not dependent on the Retail Offer’s success.

It is anticipated that the Retail Offer Shares will begin trading on AIM at 8.00 a.m. on February 3, 2025, subject to approval by the London Stock Exchange and provided all conditions are met, including the completion of the Placing and Subscription. The final deadline for this process is set for no later than 8.00 a.m. on February 28, 2025.

This announcement, based on a press release statement, contains inside information that is now deemed to be in the public domain. Quadrise has clarified that the securities discussed are not registered under the US Securities Act of 1933 and will not be offered or sold in the United States absent registration or an exemption from registration requirements.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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