Surface Transforms, the Knowsley-based ceramic brake manufacturer, has released 10.8 million new ordinary shares to raise gross proceeds of around £1.4m.
Surface Transforms makes specialist brakes for high performance cars and aircraft.
Cantor Fitzgerald is acting as nominated adviser and joint broker and finnCap is acting as joint broker in connection with the placing by the AIM-listed company.
Surface Transforms plc (LON:SCE) are experts in the development and production of carbon-ceramic materials and the UK’s only manufacturer of carbon-ceramic brakes for automotive use.