Digital Barriers, a provider of surveillance technologies to international homeland and defence markets, has conditionally placed 7.17m new ordinary shares at 145p per share to raise approximately 10m pounds after expenses for the company to further implement its stated strategy.
Tom Black, Executive Chairman of Digital Barriers, said: "Our shareholders have again demonstrated their continued support for our business and their understanding of our strategy and goals through their response to our placing. We remain excited by the opportunities for growth that lie ahead."
The purpose of the placing is to raise funds to be used by the company to further implement its stated strategy. In particular, the directors intend to use the net placing proceeds to finance the acquisition of a fourth core technology, which is currently in advanced discussions.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Digital Barriers was established in 2009 and works with governments, multinational corporations and system integrators across defence, law enforcement, critical infrastructure, transport and natural resources, delivering intelligent surveillance information from remote, hostile and mobile environments.
Shares in Digital Barriers rose 1.69% to 150p per share at 12:43 on Thursday.
MF
-
Who is the richest person in the world?The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
-
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
