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Itaconix – discounted equity raise result, argues “optimism” but what happened to the previous optimism?...

Describing itself as “a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products”, Itaconix (ITX) states that it “is pleased to announce that it has received valid acceptances from qualifying shareholders in respect of 4,513,420 open offer shares” and that it “approach the future with more commercial progress, more resources, more potential, and more optimism than ever before”. So what of a share price down from approaching 6p last month to currently little above 5p?

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Itaconix – I having previously cautioned ‘attempted ramptastic’, now an equity raise (discounted, natch!)

Previously writing on company which describes itself as “a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products” Itaconix (ITX), in October I cautioned “pleased to announce” distribution program, attempted ramptastic?. And now, quelle surprise, a “Placing, Subscription and Open Offer”.

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Itaconix (#ITX) – £10.3m equity raise at 5.1p per share, proposed £0.4m open offer

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Itaconix – “pleased to announce” distribution program, attempted ramptastic?

Itaconix (ITX), describing itself as “a leading innovator in plant-based specialty polymers used to decarbonise everyday consumer products”, states it is pleased to announce a distribution program with the Brenntag North America business of “a global market leader in chemical and ingredients distribution”, Brenntag SE. So what of a current share price response to 4.75p, more than 2% lower?

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Itaconix – interims argue “reached a new level of success”. Er, what about the earnings warning?

Itaconix (ITX), describing itself as “a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products”, states it “is pleased to announce its unaudited interim results for the six months ended 30 June 2022”. So what of the shares currently more than 10% lower in response to 5.90p?

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Itaconix – “new global agreement with Croda”, but how new and how significant?

Describing itself as “a leading innovator in plant-based specialty polymers used as essential ingredients in everyday consumer products”, Itaconix (ITX) states that it “is pleased to announce a new global agreement with Croda Inc. in odour control”. What of a share price response currently over 5% higher to 5.10p?

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Itaconix – “revenues substantially ahead”. Er, how’s the cash burn?

Describing itself as “a leading innovator in plant-based specialty polymers used as essential ingredients in everyday consumer products”, Itaconix (ITX) has issued an AGM statement emphasising “revenues substantially ahead of any prior half year. Demand has remained strong right into this week”. So what of a current 5.75p share price, circa £26 million market cap – approaching 30% ahead on this latest announcement from the company?

NEWSFLOW

Itaconix (#ITX) – AGM statement emphasises “revenue growth”, but the bottom-line?

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Itaconix – 2021 results, “well positioned for growth in the coming years”. Really?...

Previously writing on company which describes itself as “a leading innovator in plant-based specialty polymers used as essential ingredients in everyday consumer products”, Itaconix (ITX) in April with the shares above 5p I concluded ‘with, I suggest, further bailout funding still likely to be required, still avoid / sell’. So what of today-announced full-year results?...

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Itaconix – “New Funding to Support EU Volumes”… or is it?...

A “New Funding to Support EU Volumes”-titled announcement from Itaconix (ITX), with it “pleased to announce a… subscription with existing institutional shareholder IP Group entities and management”. So what’s the detail and its implications?...