Mycelx Technologies Corp - Georgia, US-based clean water and air technology - Will raise $2.2 million, or about £1.7 million, before expenses from issue of 3.4 million new shares at 50 pence each. The placing is run by Canaccord Genuity Ltd, to which Mccelx also grants a broker option allowing orders from institutional investors and private client brokers. The fresh funding will be used to accelerate the commercialisation of Mycelx’s remediation system in the US for PFAS. This stands for perfluoroalkyl and polyfluoroalkyl compounds, which are toxic chemicals that have gotten into drinking water.
Mycelx Chair Thomas Lamb buys 267,175 shares as part of the placing and now has 292,175 shares, a 1.3% stake.
Current stock price: 51.00p, down 2.9% on Friday
12-month change: up 73%
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