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Allied Minds syndicates $10.28m of STT bridge facility

By BFN News | 09:38 AM | Thursday 11 January, 2018


Allied Minds has syndicated $10.28m of the $22.8m convertible bridge facility commitment it put in place for Spin Transfer Technologies in October. It said existing STT shareholders Invesco Asset Management and Woodford Investment Management would subscribe $10.28m for convertible equity securities in STT, and Allied Minds' commitment to the convertible bridge facility will be reduced by a corresponding amount to $12.52 million. The facility is designed to bridge STT to the completion of a planned Series B funding round targeting strategic investors. At 9:38am: (LON:ALM) Allied Minds PLC share price was +0.8p at 163.4p Story provided by StockMarketWire.com

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