Collagen Solutions have this morning announced a successful fund raising of ~£6.2m, placing ~124m new shares at an offer price of 5p. Additionally the company has placed £4.0m in senior secured private bonds with Norgine Ventures, issuable in three tranches, the first of which is for £2.0m. We believe this financing should be sufficient to see the company through to profitability, and maintain our Buy recommendation.
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Financing in order
- Published:
14 Feb 2017 -
Author:
Chris Donnellan -
Pages:
6
Collagen Solutions have this morning announced a successful fund raising of ~£6.2m, placing ~124m new shares at an offer price of 5p. Additionally the company has placed £4.0m in senior secured private bonds with Norgine Ventures, issuable in three tranches, the first of which is for £2.0m. We believe this financing should be sufficient to see the company through to profitability, and maintain our Buy recommendation.