MedPal AI (LSE:MPAL) has conditionally raised gross proceeds of £3m through a placing of 120m new shares at 2.5p per share. The Placing Price is about a 13% discount to the closing mid‑market price of 2.8p on 16 April; OAK Securities arranged the transaction.
Proceeds will be deployed to accelerate the company’s growth plan, with allocations disclosed as: c.£1.3m for marketing and patient acquisition for MedPal.clinic; c.£0.8m for working capital to meet record NHS dispensing and care‑home expansion; c.£0.5m for senior hires; c.£0.15m for robotic dispensing capex at Runcorn; and c.£0.25m for corporate and transaction costs.
The 120m Placing Shares will represent approximately 19.6% of the enlarged share capital.
"Our NHS pharmacy operations are dispensing at record volumes, our weight‑loss clinic is scaling rapidly with the backing of direct supply agreements with Eli Lilly and Novo Nordisk, and our consumer app and clinical triage platform, MedPal Health OS, is attracting significant commercial interest," Jason Drummond, Chief Executive of MedPal AI, said.
