Sourcebio Share Discussion Threads

[rambutan2] 27/10/2020 21:36

lists on thurs:

Key highlights

· £35 .0 million raised (before expenses) by the conditional placing of 21,604,938 Placing Shares

· The net proceeds of the Placing will be used by the Company:

- to repay outstanding shareholder and bank loans; and

- for general corporate expenses, including working capital and capital expenditure required in order to further scale-up the COVID-19 testing business.

· Based on the Placing Price, the market capitalisation of the Company will be £120.2 million on Admission

· Enlarged Share Capital on Admission of 74,183,038 Ordinary Shares

· The Placing Shares represent 29.1 per cent. of the Enlarged Share Capital on Admission

· The Placing attracted strong support from high quality institutional investors and was significantly over-subscribed

· Admission and commencement of dealings on AIM expected at 8.00 am on 29 October 2020 under the ticker SBI

[bubbleandleek] 09/10/2020 09:20

From what i can gather we will be looking at a £40m raise which will provide working cap and clean up the balance sheet leaving the company debt free. it has gained a leading position in the covid testing space and if what i hear is correct could lead to something in the region of £60-£80m of free cash flow over the next 2 years.... this is on a c£100m market cap!! i understand that Harwood Capital are not selling down any of their holding either which makes me feel very comfortable. the rest of the business is doing well and growing but the short term opportunity in the covid testing space bring's about all sorts of opportunities. trying to work out how to get a chance to get involved as a retail investor?!

[bubbleandleek] 09/10/2020 09:19

NEW PLAY ON COVID TESTING - NHS CONTRACT