By Michael Susin
Eden Research said it has conditionally raised 9.9 million pounds ($12 million) through a placing and retail offer, and that the funds will be used for the development of new products.
The London-listed biopesticides company on Thursday said it would issue 129.2 million shares via the conditional placing, raising GBP8.4 million. It includes the issue of 7.7 million new shares through subscription.
Eden Research previously said that the funds would be used to advance the development, registration and commercialization of new product categories, including new insecticide formulations and seed treatments.
Write to Michael Susin at michael.susin@wsj.com
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