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Surface Transforms – “pleased to announce” result of a massively discounted fundraising, I wonder why!…

By Steve Moore | Thursday 2 May 2024

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 on carbon fibre-reinforced ceramic automotive brake discs company Surface Transforms (SCE), two weeks ago I wrote “2024 Sales Outlook” down from just last week! And what about the balance sheet position that dare not speak its name again? concluding, at a further down to 3.5p share price, it looking again like liquidity crunch ahoy, at what price any further bailout now? Still avoid/sell. The company now states it is “pleased to announce… has conditionally raised gross proceeds of £6.5 million”, but what of a share price currently more than 64% further lower in response towards 1p!?

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