Cientifica raised $389,000 and is now a public company in the UK seeking to invest in graphene applications

Yesterday we posted that Cientifica aims to become a public company in the UK, and today the AIM stock exchange announced that Cientifica indeed starts trading. The new company aims to acquire and build businesses that make use of graphene materials. The company will invest in by buying shares or by buying IP, assets or entering into partnerships of joint-venture arrangements.

Cientifica took over Avia Health Information stock. They disposed of the old business (for £1) and sold 16,300,000 shares at £0.02. So they raised £326,000, but the net proceedings will be £241,000 ($389,000). I'm not sure how many investments they will be able to make with such a low sum, it's likely they will need to raise more cash very soon. The company has 23,449,023 shares outstanding and the current share price is £0.025 (so the market value today is £586,225).

There is still a lot of uncertainties here, but Cientifica is officially the first pure-graphene public company in the world. If you're looking to invest in graphene, this may be an interesting choice to you.

Posted: Oct 23,2013 by Ron Mertens