Microsaic Systems confirmed it will issue 108 million new shares at 5p per share to raise £5.4 million before expenses.
Microsaic chairman Colin Nicholl said: “We are grateful to our existing shareholders as well as new investors for supporting this issue.
“The funds raised will provide the company with the resources to develop our existing partnerships, secure additional relationships, and to increase the spread of applications that are addressed.
“This in turn will allow the business to grow in a profitable way.”
At 12:03pm: (LON:MSYS) Microsaic Systems PLC share price was -0.13p at 4.63p
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