Introduction#
Built Cybernetics, a company focused on smart buildings, has announced a retail share offer aiming to raise up to £100,000. This initiative will be facilitated through the Winterflood Retail Access Platform (WRAP).
Share Offer Details#
The company plans to issue up to 6,666,666 new ordinary shares at a price of 1.5 pence each. This price is approximately 21% lower than the recent mid-market closing price of 1.9 pence on AIM, the stock exchange where the company is listed. Existing shareholders in the UK can participate through specific financial intermediaries, with a minimum investment set at £100 per investor.
Use of Proceeds#
The funds raised from this retail offer will be utilized similarly to another fundraising effort announced on the same day, which successfully raised about £0.57 million before expenses at the same share price. Both fundraising activities aim to support the company's ongoing projects and initiatives.
Important Dates#
The retail offer is set to close at 5:00 p.m. on May 7, 2026. However, the issuance of new shares is contingent upon certain resolutions being approved at the company’s annual general meeting, scheduled for May 22, 2026. If all goes as planned, trading of the new shares is expected to begin at 8:00 a.m. on May 25, 2026. The new shares will have the same rights as existing shares, including eligibility for dividends declared after their issue date.
Advisory and Brokerage#
Canaccord Genuity Limited is acting as the nominated adviser and joint broker for Built Cybernetics, while Allenby Capital Limited serves as a joint broker. The WRAP platform is managed by Winterflood Securities.