We are delighted to announce Surface Transforms will be presenting a live webinar on Hardman Talks at 10:15am on Monday 3 October 2022. Sign up now for your place.
Surface Transforms has announced the completion of a placing and subscription to raise £16m and is now making an Open Offer to qualifying shareholders for another £3m of new shares. All these shares are priced at 40p, which represents a 14% discount to the closing mid-price on 27 September.
The company has made substantial progress with OEMs on new orders. It already has sufficient orders to fully utilise the extra capacity provided by phase 2 of the expansion of the current Knowlsey factory, but no spare capacity to meet additional orders. The proceeds of the fundraising will be used to boost the potential output of the current factory by 50%, as well as provide the working capital that further orders will entail. Management will be hosting a webinar for retail investors to hear the accompanying presentation and to ask questions.
You can send us your questions when you register or during the presentation.
Surface Transforms is expert in the development and production of carbon-ceramic materials and the UK’s only manufacturer of carbon-ceramic brakes for automotive use. The company utilises its proprietary next-generation carbon-ceramic material – CCST – to create lightweight brake discs for high-performance applications, including automotive and aircraft brakes. The company has won a number of contracts with leading OEMs in the car industry.