MicroSalt shares soared on Wednesday after announcing that its directors had put in around £151,000 of their own money as part of its fundraise.
It also noted that a retail offer to existing shareholders had closed oversubscribed.
The low-sodium salt maker said five directors and senior managers, including chair Judith Batchelar and interim finance chief Gary Urmston, had subscribed for shares at 14p each, the same price as its recently completed £1.3m subscription.
In a major vote of confidence in the company’s future, the Interim CFO invested £50,000 while Judith Batchelar, previously Director of Sainsbury’s brand, invested £30,000.
The directors’ contribution completes a fundraise that, together with an earlier conversion of debt into equity, has put the company on a much stronger footing to deliver on its guidance of achieving $15m revenue in 2027.
The completion of the fundraise comes a day after MicroSalt announced record revenues of $1.4m for the first half of the year and suggested 2026 full-year revenue could reach $4.5m.
MicroSalt shares were trading 24% higher at 18p at the time of writing.