Eden Research, an agrochemical and encapsulation development company, has placed 12.23m shares at 9.0p each, prompting a drop in the share price.
The £1.1m proceeds (before expenses) will be used to develop and exploit the company's co-encapsulation process and to research and develop other applications, such as wound-care and dental hygiene, as well as providing general working capital.
Shares in the company fell 7.69% to 10.50p by 14:55.
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