Haydale recently outlined its new plan, that includes the acquisition of SaveMoneyCutCarbon (SMCC) alongside an equity raise to support the transaction and strengthen its balance sheet.
Now, it was reported that the fundraising leg of that plan is largely in place. Haydale has raised approximately £5.8 million, made up of £4.7 million from a placing, £540,000 from direct subscriptions and £500,000 from an oversubscribed retail offer. This sits just below the original “up to £6.4 million” target, but is probably enough to move the deal and the new strategy forward.
These new shares come on top of the large block of consideration shares that will be issued to acquire SMCC, with up to £17.1 million of all‑share consideration in total if future share‑price conditions are met. In other words, existing shareholders are taking a lot of dilution, but in return Haydale reduces reliance on debt, brings in a proven energy‑efficiency platform and gains a much broader route to market for its graphene‑enabled products.
From here, the next milestones are shareholder approval at the early‑January general meeting and admission of the new shares to trading on AIM. If those conditions are satisfied, Haydale will not only complete the SMCC acquisition but also rebrand as “Haydale plc”, possibly signaling the shift from a pure graphene materials play to a wider clean‑technology and energy‑efficiency platform.
