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DDD considering equity fund raise to support new product development

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Visual technologies specialist DDD Group (LON:DDD) is considering an equity based funding as part of efforts to strengthen its balance sheet in support of new product launches.

DDD says there was a positive market reaction at the recent Consumer Electronics Show to the group’s new visual effects platforms for tablet devices.

Talks have been underway with potential customers in relation to both commercial and technical matters, and the company said it is actively pursuing development and licence agreements to take the products forward.

In the meantime it intends to raise some £1.5mln in the first quarter of 2015, potentially via the issue of new shares. DDD says the funding would provide working capital and allow the completion of the Android versions of the software.

It is also exploring other financing opportunities, including strategic partnerships or loans.

“There can be no certainty that completion of the financing program will be achievable however,” the company cautioned.

DDD says it currently has sufficient working capital to meet its requirements through the second quarter of 2015.  

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AIM:DDD
Market: AIM
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