(Alliance News) - Light Science Technologies Holdings PLC announced on Tuesday that it successfully raised aggregate gross proceeds of around GBP1.6 million.

The fundraising was achieved through the issue and proposed issue of around 158.9 million new ordinary shares in Light Science at one pence per share.

Light Science is a controlled environment agriculture business, aiming to help growers produce sustainable and profitable crops using technology and data. It is headquartered in Derby, UK.

Light Science's issue of over 107 million placing shares raised approximately GBP1.1 million, the issue of 35.5 million subscription shares raised GBP355,000, and the issue of over 15.6 million WRAP retail offer shares raised GBP156,055.

The issues of conditional placing, subscription and WRAP retail offer shares are are subject to the approval of the shareholders at Light Science's general meeting. This will take place on Friday.

The company expects the shares to start trading next week Monday.

Shares in Light Science closed down 5.0% at 1.14 pence on Tuesday in London.

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.