Feedback PLC raises £10.7m


Feedback Medical Feedback PLC

We are delighted to announce the completion of the bookbuild, which was oversubscribed, on 2 November 2021. A total of 1,528,571,420 placing shares have been conditionally placed at the issue price of 0.7 pence per placing share to raise a total of approximately £10.7 million for the company (before expenses).

We also announce details of an open offer to be made to qualifying shareholders to raise up to an additional £0.5 million at the issue price.

Use of funds

The fundraising will be used primarily to:

  • further develop the CareLocker product to meet existing and growing demand in both the UK and international markets
  • further develop Bleepa in order to grow its functionality, including features for non-healthcare customers such as veterinary professionals
  • build upon the existing UK team in order to accelerate revenue growth in the UK and to manage overseas operations, which requires increased resources for the marketing, sales, finance and regulatory teams
  • undertake a tuberculosis screening pilot study in India and explore wider market opportunities and potential applications of the Company’s technology in India

Circular to shareholders and AGM

A circular to shareholders containing full details of the fundraising including details of the open offer and the terms and conditions on which it is being made, (including the procedure for application and payment) and convening the Annual General Meeting is available to view here. Panmure Gordon (UK) Limited is acting as nominated adviser, sole broker and sole bookrunner to the Company.

This transformational financing round will enable Feedback to capitalise on the enormous opportunities ahead of it and is recognition of the incredible strides that we have taken over the last two and a half years in order to position the company at this juncture. With the launch of Bleepa, CareLocker and our Bleepa Box technology we have revitalised Feedback as a company and set a new course that will see us as one of the leaders of the technological revolution in healthcare. We are a company with big ambitions and the ability to deliver against those ambitions.” Dr Tom Oakley, CEO, Feedback PLC.

For further details on the fundraise view more here.