SRT Marine Systems (LSE:SRT) has kicked off an accelerated bookbuild to raise not less than £12.5m via a placing at 82p per share, alongside a £1.5m subscription from existing shareholder Ocean Infinity and a retail offer for existing shareholders of up to £1m.
Proceeds will "further strengthen the company's balance sheet, to accelerate product development and to support new contract conversion and delivery," the company said.
The placing is aimed at institutional investors, whilst the the retail offer will be conducted via the Bookbuild Platform and is open to existing shareholders.
SRT framed the raise as capacity to convert and deliver against a sizeable pipeline: the company reported H1 (to 31 Dec 2025) gross cash of £41.6m, revenues of £51.1m (up 95% year‑on‑year) and an active contract order book of approximately £350m (of which £123m has been executed and £227m remains to deliver).
Management also said the company’s system pipeline has strengthened to £1.8bn, with a new sovereign contract of £195m moving from pipeline to signed status pending project finance activation.
