Tekcapital plc Private Placement for Belluscura to raise US$1.33m (8073E)
February 14 2018 - 1:00AM
UK Regulatory
TIDMTEK
RNS Number : 8073E
Tekcapital plc
14 February 2018
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014
("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
14 February 2018
Tekcapital plc
("Tekcapital" or the "Company")
Private Placement for Belluscura plc to raise US$1.33m
Tekcapital plc (AIM: TEK), the UK intellectual property (IP)
investment group focused on creating marketplace value from
university technology, is pleased to announce that Belluscura plc
("Belluscura") has concluded a private placement to raise
approximately US$1.33m (the "Private Placement") through Dowgate
Capital Stockbrokers and converted loans equal to approximately
US$268k to equity under the same terms as the Private
Placement.
This Private Placement was priced at US$0.18 (13p) per share,
giving Belluscura a post-money valuation of approximately US$3.7m.
Belluscura will extend the Private Placement for an additional 90
days to enable current shareholders and additional investors to
participate.
Belluscura was established in the UK in December 2015 to provide
premium proprietary medical devices at affordable prices. It has
already launched three products with two more products in
development. The proceeds of the Private Placement will be used for
further investment in Belluscura's products in development,
specifically the CURV(TM) oxygen concentrator and Snap III(TM)
level of consciousness monitor and for general working capital
purposes.
Commenting on the Private Placement, Bob Rauker, CEO of
Belluscura, said: "We are very pleased to announce this Private
Placement. The funds will allow Belluscura to continue with its
mission to provide premium, proprietary medical devices at
affordable prices."
Tekcapital has invested $250,000 in the Private Placement and
converted loans to Belluscura of $210,090 to equity under the same
terms as the Private Placement. As a result, Tekcapital's ownership
interest in Belluscura is now 8,129,488 shares, representing
approximately 39% of the issued share capital. Under the terms of
the Private Placement, Tekcapital was issued with a three-year
warrant to purchase 1,273,078 new shares in Belluscura at 13p per
share.
For further information, please contact:
Tekcapital Plc
Clifford M. Gross, Ph.D. info@tekcapital.com
Allenby Capital Limited (Nominated
Adviser & Joint Broker) +44 (0) 20 3328 5656
Jeremy Porter / Alex Brearley
Dowgate Capital Stockbrokers
(Joint Broker) +44 (0) 1293 517744
David Poutney / James Serjeant
Walbrook PR Ltd +44 (0) 20 7933 8780
Paul Cornelius / Helen Cresswell tekcapital@walbrookpr.com
/ Sam Allen
Tekcapital plc - The World's Largest University Network for Open
Innovation
Tekcapital's objective is to create value from investing in new,
university-developed intellectual properties. Additionally, using
its proprietary discovery search engine, linked to 4,500+
universities in 160 countries, coupled with expert scientific
review, Tekcapital provides a range of IP investment services to
make it easy for organisations to find, evaluate, acquire and
license university-developed technology. Tekcapital plc is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
This information is provided by RNS
The company news service from the London Stock Exchange
END
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