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Trackwise Designs – “pleased to announce” (or not?) a more than 92% discount equity raise bailout (and not for very long)!

By Steve Moore | Wednesday 14 December 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.

Previously writing on printed circuit technology products company Trackwise Designs (TWD) as the shares more than doubled to above 17p and a £6.5 million market cap I concluded that ‘I retain concern on the additional funding options in the current admitted massively challenging macro business environment. As such, I currently continue to avoid’. The company though today commences an announcement with that it “is pleased to announce a proposed conditional placing to raise gross proceeds of £3.65 million”. Admittedly, the shares last closed at 12.65p…but at least a ‘pleasing’ price in relation to that then?

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