Zeus Capital acted as Nomad and Joint Bookrunner on the £20m fundraising by Ceres Power Holdings plc (Ticker: CWR.L).
The shares in the fundraising were conditionally placed by way of an accelerated bookbuild at 15.08 pence, a discount of only 2.7 per cent to the closing mid-market price of the Ordinary Shares on 3 July 2018. The shares were conditionally placed with new and existing institutional and other professional investors and the fundraising was significantly oversubscribed. Once complete, the fundraising, and the separate strategic investment by the Company’s partner Weichai Power, are expected to provide the Company with the funds to take its technology to commercialisation as well as financing its proposed manufacturing facility.
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