EnSilica (AIM:ENSI), the AIM-listed fabless microchip designer serving space, communications, industrial and automotive markets, has closed an oversubscribed placing and subscription following an accelerated bookbuild launched after Tuesday's close.
The proceeds, £14 million, will be used to accelerate new product development and expand the company's growing contract pipeline.
New shares are being issued at 91p per share, and, a separate retail offer through the BookBuild Platform opened this morning. The offer is expected to close at noon on 9 July, with results announced by noon on 10 July.
Chief Financial Officer Kristoff Rademan participated in the raise, subscribing for 3,300 new shares at 91p per share.
The second tranche of the placing, the subscription and the retail offer are conditional on shareholder approval at a general meeting to be held at 10:00 a.m. on 27 July, with admission to AIM expected to follow on 29 July.
