LiDCO plc, a cardiovascular monitoring company, has raised £3.2 million through a placing of 31.9 million shares to existing and new institutional investors and high net worth individuals.
The money will be used to strengthen the balance sheet and reduce reliance on debt funding.
Terry O'Brien, LiDCO's CEO said, “I am delighted to announce the successful raising of £3.2 million, from our existing shareholders based both in the UK and US, and from new investors. The placing was oversubscribed and I thank all participants.”
The company is listed on the Alternative Investment Market in London.