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Highlights

  • Gelion raises up to £2.1 million via Placing, Subscription, and Retail Offer.
  • Proceeds to support collaboration with Max Planck Institute and business expansion.
  • Fundraising offers existing shareholders opportunity to participate through Retail Offer.

Gelion plc (AIM: GELN), a company focused on energy storage innovation, has announced an equity fundraising of up to £2.1 million (before expenses). The fundraising will be conducted through the issuance of up to 23,392,102 new shares, which includes a Placing of approximately 8.5 million shares, a Subscription for 12.8 million shares, and a Retail Offer of up to 2.1 million shares, each priced at 9 pence per share.

The Placing, which is aimed at both new and existing institutional investors, will raise approximately £0.76 million. Additionally, the Subscription, targeting certain investors, is expected to generate around £1.15 million. Notably, key figures such as CEO John Wood and other employees are participating in the Subscription, contributing a total of £0.34 million. The Retail Offer, intended for existing shareholders who have not taken part in the Placing or Subscription, could raise up to £0.19 million.

The funds raised through this initiative will be directed toward advancing Gelion's strategic partnership with the Max Planck Institute, supporting business development, establishing corporate collaborations, expanding the company’s Integration Solutions business, and covering general working capital needs. Gelion also plans to utilize the funds to further develop their sulfur battery technology, an area they are actively pursuing with the Max Planck Institute to address global energy storage challenges.

The issue price of 9 pence per share represents a discount of approximately 12.2% to the closing market price of Gelion's shares on April 16, 2025. The fundraising is subject to shareholder approval at a General Meeting, with further details on the process to be provided soon.

Additionally, Gelion has appointed Allenby Capital as its joint broker, working alongside Oberon Capital to manage the fundraising.