Haydale Bailout Fundraise – Skin In The Game This Most Certainly Is Not!
By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 7 September 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
AIM-listed graphene outfit Haydale (HAYD) triumphantly announced the completion of its latest bailout keep-the-lights-on fundraising this morning. With £5 million in the bag – and an open offer to existing shareholders to raise a bit more at 2p – the company was pleased to announce that this latest fundraise, worth around half of the current market capitalisation, would be used predominantly to fund the general working capital needs of the business. Tosh! It will be used to fund the seemingly unending ongoing losses! What is it about AIM-listed graphene businesses?
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.