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OptiBiotix Health – discounted EIS placing, target price cut but still 85p

By Tom Winnifrith & Steve Moore | Tuesday 26 March 2024

Disclosure: I own shares in one or more of the stocks mentioned. 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.

OptiBiotix Health (OPTI) has announced a £1.35 million placing with CEO Steve O’Hara arguing “given the scale of the opportunities, the board has decided to raise additional capital to capitalise on these growth opportunities and build shareholder value”. It hasn’t got off to a very good start – the news sending the shares more than 11.5% down to 21p. But this is an EIS raise, the last OptiBiotix will be able to do, so suggestions of flipping are just wrong.
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