20 Jan 2021
We are delighted to have supported Surface Transforms (SCE LN) with a £20m fundraise to support expansion of manufacturing of the Group’s market leading carbon ceramic brake discs. Zeus Capital acted as Nominated Adviser and Joint Bookrunner for the heavily oversubscribed placing for the initial £18m of funds. An Open Offer will seek a further £2m. Proceeds will mainly be used to fund the construction of a new production cell to meet growing demand from new and existing automotive OEMs. The fundraise attracted a number of high profile new institutional investors, as well as receiving significant support from existing shareholders. Closing is subject to shareholder approval at a General Meeting on 8 February.