BSF Enterprise Raises GBP2.9 Mln to Fund Organic Growth

Dow Jones

Mar 29, 2023

By Ian Walker

BSF Enterprise PLC said Wednesday that it has raised 2.9 million pounds ($3.6 million) via an oversubscribed share placing and will use the money toward organic growth and for working capital.

The biotech-solutions investment company has issued a total of 17.2 million new ordinary shares at 17 pence each, a 16% discount to its closing price of 20.25 pence on Tuesday.

"After engaging in a significant number of new business opportunities in 2022, our portfolio company 3DBT continues to build momentum and deliver on its strategy of developing City-Mix for a variety of high growth markets," Managing Director Che Connon said.

"With a strong 2023 pipeline in place, these funds will support further organic growth as we seek to grow the business both through our Go To Market strategy and expansion into new markets."

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

March 29, 2023 02:43 ET (06:43 GMT)

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