Surface Transforms - New guidance – forecasts under review

Surface Transforms has issued new revenue guidance for FY24, with the company now expecting revenues in the range £17.5-22m. We are withdrawing our previous forecasts for FY24 and withdrawing our price target while we review the impact of the new guidance.

Hybridan Small Cap Feast - 17 April 24

17th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi

Surface Transforms plc (SCE LN) - Forecasts and valuation withdrawn

We note the regulatory announcement this morning from Surface Transforms and withdraw our estimates and valuation, pending conversations with management.

Morning Note – 9 April 2024

Surface Transforms (SCE LN) - Obstacles removed for higher production

Surface has issued a brief Q1 update. Production will ramp-up this year as final new equipment is installed, and manufacturing teething problems recede.

Hybridan Small Cap Feast - 08 Jan 24

8th January 2024 Happy New Year to all our Readers! @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regar

Morning Note – 8 January 2024

Surface Transforms - Year-end trading update – encouraging step-up in Q4 activit

Having experienced a difficult 18 -months, the year-end trading update confirms a good step-up in Q4 revenue, with greater operational availability and no further technical issues. The increase in quarterly output is expected to gain momentum through FY25 and beyond. The Company believes the worst of its growing pains are behind it. Recent placing and loan agreement funding enables it to accelerate capex, with the increase to a £50m capacity footprint by mid-2024. It expects further new contract

Surface Transforms (SCE LN) - Moving forward

Surface Transforms has issued a positive pre close update and outlook statement, following the recent successful fundraising programme completed in December.

Morning Note – 12 December 2023

Hybridan Small Cap Feast - 11 Dec 23

11th December 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obj

Surface Transforms (SCE LN) - Finance secured for accelerated growth

Surface Transforms has now secured all the funds it needs to significantly ramp up factory capacity and rapidly improve revenue and profit over the next few years. The financing package has secured over £24m (gross) of new capital and comprises a £13.2m loan and equity of £8.3m via a Placing and Subscription and £2.7m from an Open Offer. Demand for the Group’s market leading carbon ceramic brake discs is strong with a £390m OEM order book secured, and a further potential £300m in the prospective

Hardman & Co Research: Surface Transforms (SCE) - Funding for growth: Open Offer

In the past two years, Surface Transforms (SCE) has quadrupled its order book, raised monthly sales run rates from £0.2m to £1.0m and expanded its capacity four-fold to a £20m pa sales rate. A 3 November update pointed to production teething troubles. October sales of £1.0m were below prior estimates, so we significantly reduced our 2023 and 2024 estimates. We estimate PAT breakeven for 2H24. Initially from debt, SCE has the resources to finance capital expenditure from internal cash flow to rai

Hybridan Small Cap Feast 14/11/2023

Dish of the day Joiners: No joiners today. Leavers: Ergomed has left AIM. What’s cooking in the IPO kitchen?** 9 November: Chapel Down Group ITF: England's leading and largest wine producer with an award-winning range of sparkling and still wines, under the Chapel Down brand. The Company owns, leases and sources from 1,023 acres of vineyards in South East England announces its Admission to AIM after its transfer from the Aquis Apex market. The Company will not be raising new capital or providing