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MicroSalt Adjusts Fundraising Efforts with Additional Share Issuance

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MicroSalt plc ( (GB:SALT) ) has provided an update.

MicroSalt plc announced an update regarding a recent fundraising effort, wherein an administrative oversight led to a missed order from a legitimate investor. Following legal consultation, the company agreed to accept an additional subscription of £100,100 and issued 143,000 new ordinary shares at £0.70 each. These shares, along with granted warrants, are anticipated to be listed on AIM by 13 February 2025. This move increases the company’s total voting shares to 51,963,276, potentially impacting shareholder interests and company transparency.

More about MicroSalt plc

MicroSalt plc is a company in the food industry, known for producing a patented full-flavour, low-sodium salt for both food manufacturers and consumers. Their innovative product contains about 50% less sodium, catering to an increasing demand for healthier salt alternatives due to its potential health benefits, particularly in reducing cardiovascular disease risks. MicroSalt targets both B2B and B2C markets with its products, including a premium line aimed at quick-service restaurants, and is positioned as a potential disruptor in the reduced-sodium salt market.

YTD Price Performance: -3.57%

Average Trading Volume: 22,875

Technical Sentiment Consensus Rating: Sell

See more insights into SALT stock on TipRanks’ Stock Analysis page.

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