AIM-listed EnergyPathways, the energy transition company, has announced that, further to the placing and subscription to raise approximately £1,238,000 ('Fundraise') announced on 13 October 2025, the Company has raised an additional £125,000 through a private placing and subscription ('Additional Fundraise') conducted on the same terms as the Fundraise.
The Additional Fundraise was executed with certain long-term existing shareholders by way of the issue of 2,083,332 new ordinary shares ('Additional Fundraise Shares') at a price of 6 pence per share ('Placing Price').
As per the Fundraise, investors in the Additional Fundraise will receive one warrant for each Additional Fundraise Share ('Warrant'). The Warrants have an exercise price of 9 pence and will expire 2 years after the date of the Additional Fundraise Shares' admission to trading on AIM. The Warrants have an exercise accelerator clause, requiring the Warrant holder to either exercise or lose the Warrants should the price of the Company's Ordinary Shares exceed 12 pence (on a 10-day VWAP basis) over a 30-day period.
In connection with the Additional Fundraise, the Company has agreed to issue 83,332 new ordinary shares in respect of commission payable in respect of assistance with arranging the Additional Fundraise ('Commission Shares') and 8,333 Warrants on the basis of one Warrant for every two Commission Shares on part of the commission payable.
The proceeds of the Additional Fundraise will be used to fund pre-development activities on the Company's flagship MESH project as announced on 13 October 2025.
Admission and Total voting rights
The Placing is conditional on the Additional Fundraise Shares, which will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, being admitted to trading on AIM ('Admission'). Admission of the Additional Fundraise Shares and the Commission Shares is expected to occur on or around 27 October 2025.
Immediately following Admission (and admission of the Fundraise Shares), the Company will have 223,121,407 Ordinary Shares in issue. Accordingly, the total number of Ordinary Shares in the Company with voting rights will be 223,121,407. This figure may be used by shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Commenting on the Additional Fundraise, CEO Ben Clube said:
'We're pleased to have completed this Additional Fundraise with existing long-term shareholders to raise further funds to deliver near-term workstreams. We have strong demand within our shareholder base, recognising the significant value proposition presented by our MESH project and the nationally significant potential of our strategy.'
Source: EnergyPathways
