By Devika Patel
Knoxville, Tenn., Feb. 12 - Iofina plc said it has conditionally raised £5 million in a private placement of shares.
The company will sell 9.09 million ordinary shares at 55p per share.
Proceeds will be used to pursue several new opportunities in the iodine derivatives market.
Iofina is a London-based iodine and natural gas exploration and production company.
| Issuer: | Iofina plc
|
| Issue: | Ordinary shares
|
| Amount: | £4,999,500
|
| Shares: | 9.09 million
|
| Price: | 55p
|
| Warrants: | No
|
| Pricing date: | Feb. 12
|
| Stock symbol: | London: IOF
|
| Stock price: | 48.5p at close Feb. 12
|
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