Versarien, UK-based graphene and advanced materials producer and engineering group, has entered into a £6 million subscription agreement with Lanstead Capital Investors LP, a US managed institutional investor.
“We are delighted to welcome Lanstead as a significant institutional shareholder in Versarien. The proceeds of the Sharing Agreement will underpin our activities over the next two years,” said Versarien CEO Neil Ricketts.
“The mechanics of the Sharing Agreement allow Versarien to benefit from future share price appreciation and reflect an alignment of both the Company and Lanstead’s belief in the potential for substantial value enhancement for shareholders through the execution of our graphene commercialization strategy,” he added
“With the Company having a sound financial base and despite the background of the current global Covid-19 pandemic, I am confident that the Company will continue to make significant progress in the coming months. In particular, we continue to advance our discussions in China and elsewhere and this fundraising does not preclude us from obtaining additional funding from other sources to accelerate the development of our graphene commercialization strategy should appropriate value-enhancing options be available,” Ricketts said.
Versarien is a Leadership Partner with the National Graphene2D Association (NGA2D) and CEO Neil Ricketts is a member of the Association Advisory Board.
The NGA2D is the leading organization in the United State advocating the commercialization of graphene, 2D and like materials. See the future, join NGA2D: www.nga2d.com