EnSilica PLC (AIM:ENSI) has raised about £14 million through an oversubscribed placing and subscription, giving the fabless chipmaker fresh capital to accelerate new products, projects and its growing contract pipeline.
The AIM-listed company said the fundraising was priced at 91p per share and comprised 15,381,315 placing shares issued to new and existing institutional investors, alongside a 3,300-share subscription by chief financial officer Kristoff Rademan.
EnSilica is also opening the door to retail investors through a separate BookBuild offer of up to £1 million at the same issue price, with as many as 1,098,901 new shares available to eligible UK investors.
The placing will be completed in two tranches due to limits on existing share authorities. The first, raising about £10.73 million, is expected to be admitted to AIM on or around 10 July, while the second tranche, subscription and retail offer shares are expected to begin trading on or around 29 July, subject to shareholder approval at a general meeting on 27 July.
Esterhuyzen Limited, a substantial shareholder, subscribed for 6 million placing shares and will hold 21.5 million shares, or 16.58% of EnSilica, on first admission.