Kromek taps up investors in £13m fundraise to ramp up growth

The County Durham company has grand plans to accelerate commercialisation of its biological threat detection technology.

County Durham tech firm Kromek is tapping up investors for £13m to help drive forward its growth plans.

The Sedgefield business, which also has a US site, has announced a conditional firm placing, directors’ subscription and open offer to raise up to £13m before expenses. The firm placing is being carried out with new and existing investors in the NETPark based company, which supplies detection technology focusing on the medical, security screening and nuclear markets.

It plans to raise £10m through the firm placing and directors’ subscription, through the issue of 66,666,667 shares at 15p a share

Source: Business Live