Tekcapital secures investment at market price ahead of Guident IPO

Tekcapital has secured additional growth capital from an investor as the investment company gears up for the IPO of its portfolio company, Guident, later this year.

A single investor who invested in a placing last year has increased their stake in Tekcapital by making a further £500,000 investment in the company at the current market price. The placing is notable because the investor was happy to commit a sizeable amount without demanding a discount on the market price.

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Many small-cap companies are forced to raise funds at substantial discounts to garner investor interest. The terms of today’s capital raise are a major vote of confidence from an investor who has previously invested in the company.

The investment will provide Tekcapital with further growth capital ahead of Guident’s proposed IPO later this year. Guident recently appointed an investment banker for a potential NASDAQ IPO as the autonomous vehicle sector heats up.

“We are very grateful for the support of one of our existing shareholders who invested in a placing last year and who is keen to increase his investment in the Company,” said Clifford M. Gross Ph.D., Executive Chairman of Tekcapital.

“This is an exciting time for our Company, with three portfolio companies now trading on AIM, one trading on the NASDAQ, and as announced recently, our fifth portfolio company Guident planning a listing in the US.”

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