Futura Medical has launched a retail offer to existing shareholders via the BookBuild platform, seeking up to £150,000 through the issue of up to 75 million new shares at 0.2p each.
The AIM-listed company, which develops topical pharmaceutical products including its erectile dysfunction treatment MED3000, is running the offer alongside a separately announced conditional fundraising of approximately £1.6 million comprising a firm placing, a conditional placing and a conditional subscription.
The 0.2p issue price represents a discount of approximately 37.63% to the closing middle market price of 0.32p on 2 September.
Futura said it valued the support of its retail shareholder base, which has backed the company alongside institutional investors since its AIM admission in 2003.
Turner Pope Investments is acting as retail offer coordinator, with a minimum subscription of £100 per investor and no maximum.
The retail offer opens at 7:05 am on 3 September and closes at 4:30 pm on 4 September, with results due 7 September.
