Wednesday, June 12, 2024

£400k for Voyager on admission to Acquis

Scottish CBD products company, Voyager, has raised £400,000 and been admitted to the Acquis stock market.

Following successful placing and subscription of 689,656 new ordinary shares of 1p, each at 58 pence per share, Voyager has been admitted to the access segment of the AQSE growth market, so raising gross proceeds of £400k.

A statement from the company says, “On admission, Voyager’s enlarged share capital comprises 9,252,920 Ordinary Shares. The market capitalisation of the company immediately following admission, at the issue price of 58 pence per new ordinary share, is approximately £5.4 million.”

Incorporated in Novemer 2020, Voyager sells CBD products for people and pets online and via retailers, and is about to open its first shop in St Andrew’s.

CEO Nick Tulloch comments, “Our plan from day one was to list Voyager at the appropriate time, to both improve our trading liquidity for all our shareholders and to enhance the company’s corporate standing as a new entity seeking partnerships with established retailers.

“I am therefore very pleased to have reached this milestone just eight months after our first fundraising round in November 2020. We have raised a total of £2.5 million to date and our cash balance will exceed £2 million, net of IPO expenses. We therefore begin July 2021 with a very healthy balance sheet, new products developed, manufactured and paid for, our first year’s rent on our St Andrew’s store already settled. Above all, we have achieved our objective of providing liquidity for our shareholders on schedule. It is a testament to the business plan that we have set out that, in spite of softening market conditions for IPOs and numerous other companies in our sector seeking funds, we have concluded our IPO on schedule and at our target valuation.

“Voyager is already generating revenue from a low-cost base and we believe we are in a very strong long-term position to develop the business and grow our customer base. I’d like to thank our shareholders and customers for their continuing support. We are very excited by our pace of commercial progress and will keep our new and existing shareholders fully appraised of each milestone we pass in the coming weeks and months.”

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