IQE (LON: IQE) has bounced back following the fundraising earlier in the week. It raised £30m at 20p a share and a retail offer brought in a further £1.1m. The share price recovered 16% to 24.075p.
A positive trading statement from legal services provider Knights Group Holdings (LON: KGH) has helped the share price recover 7.88% to 91.7p. Full year revenues will be 13% ahead at £142m and pre-tax profit will be nearly one-fifth higher at £21.5m. Net debt is estimated to be £29m, well within the bank facilities. That figure is before the most recent acquisitions.
Asiamet Resources Ltd (LON: ARS) chief executive Darryn McClelland bought 5.5 million shares at 1p each. The share price rose 7.69% to 1.05p.
GeneDrive (LON: GDR) shares soared above 24p earlier in the day, but they have fallen back to 21.75p, which is 6.1% higher. The National Institute for Health & Care Executive has recommended GeneDrive’s CYP2C19 molecular genetic test for stroke patients. The test should get UKCA marking for the test before the final guidance report in October.
Antibody discovery company Fusion Antibodies (LON: FAB) has raised £1.56m at 5p a share and a REX retail offer could raise more. The share price slumped 74.6% to 8p. The cash and cost saving measures will provide enough funds to enable Fusion Antibodies to offer its Integrated Therapeutic Antibody Service, as well as further developing the OptiMAL therapeutic antibody discovery platform.
Mirada (LON: MIRA) shares continue to fall after it set out plans to cancel its AIM quotation. The latest fall of 53.9% to 3p, means that the share price has fallen by more than four-fifths this week.
Sustainable fuels developer Velocys (LON: VLS) intends to raise £6m in a placing at 2.5p a share and a retail offer could raise up to £500,000. An open offer could raise up to £2m more. The share price declined 27.5% to 2.445p. Carbon Direct Capital is subscribing for a minimum of £12m of convertible loan stock – the conversion price is 2.5p or it could be lower if more shares are issued at a lower price. The structure of the convertible incentivises a US listing within 21 months. The cash raised will be invested in fuels projects in the UK and US and the commissioning of an Ohio manufacturing facility.
Unbound Group (LON: UBG) has commenced a strategic review and formal sales process following the failure to secure a cash injection from Marwyn. The focus will be Hotter Shoes in the UK with overseas consumer sales being temporarily ended. There is a danger of a shortage of cash in the autumn. The share price fell 15.4% to 2.75p.
