Vela Technologies looks to participate in proposed BTL Group fundraising
Vela Technologies said it is looking to subscribe for 50,000 equity units, equating to about C$135,000, in BTL Group's proposed fundraising.
FTSE AIM All-Share
759.18
11:10 29/04/24
Media
11,874.24
11:10 29/04/24
Vela Technologies
0.01p
10:09 29/04/24
Vela said its proposed investment would be funded from existing cash resources.
The investing company focused on early-stage and pre-IPO disruptive technology investments currently holds about 689,800, or roughly 4%, of BTL's shares.
BTL proposed issuing 1m equity units, each comprising one common share at C$2.70 each, and half a warrant to subscribe for further BTL common shares. The warrants were exercisable at C$3.25 each, expiring 24 after the date of issue.
It said its proposed investment remained subject to it and BTL entering certain documentation. There were no guarantees its proposed investment would take place.
At about 09:20 GMT, shares in AIM-quoted Vela were flat at 0.2p each.