Source - SMW
LiDCO has conditionally raised £3.0 million, before expenses, through a placing and subscriptions. 

LiDCO's broker finnCap placed  47,916,666 new ordinary shares with new and existing institutional investors at 6p apiece and subscriptions with the company of 2,083,334 new ordinary shares at the placing price with certain directors of the company.   The placing and subscriptions are conditional upon shareholder approval.

Chief executive Matt Sassone said: "We are delighted with the support shown by both existing and new investors, which resulted in the placing being oversubscribed. This is an exciting time for the company, we believe we are well positioned to pursue additional growth from substantial US opportunities and other distributor markets. The proceeds from the Placing and Subscriptions will allow the company to focus on developing sustainable, repeatable businesses outside its core UK market." 


At 8:11am: (LON:LID) LiDCO Group PLC share price was -0.88p at 6.13p



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