Global Connectivity has raised £293,239 in gross proceeds through a placing and subscription arranged by Hybridan LLP.
The AQSE-listed company, which holds strategic stakes in connectivity-focused technology businesses including UK broadband provider Voneus, issued 208.24m placing shares and 85m subscription shares at 0.1p each.
Net proceeds go toward working capital, extending the company's financial runway to July 2027, provided Executive Chairman Dr Keith Harris continues to forgo his fees in the absence of a liquidity event.
Harris himself is participating, subscribing for 100m new shares worth £100,000, taking his and Mrs Janie Harris's combined holding to 140.13m shares.
"I am delighted with the support this fundraising has received from existing shareholders," Harris said, adding that the funding "will enable us to pursue our consistently stated strategy."
