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Sondrel – shares subscription including to fund “transformation plan”, but what is the plan and how well funded is it still?…

By Steve Moore | Tuesday 14 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.


Describing itself as “a leading provider of ultra-complex chips for leading global technology brands”, Sondrel (SND) has announced that “it has conditionally raised gross proceeds of £5,625,400 pursuant to a subscription by ROX Equity Partners… at the issue price of 10 pence per new ordinary share. Furthermore… upon completion of the fundraising, the principal sums of the ROX loan agreements will convert into 28,746,000 new ordinary shares”. What of shares in Sondrel currently responding more than 57% higher despite this all stated to follow already “the company's notification of 28 March”?
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