The IPO placing raises approximately GBP 22.6 million ($40.3 million US) before expenses for XL TechGroup, valuing the company at approximately GBP 72.6 million ($129.4 million US).
The offering is being managed by Code Securities Limited which is acting as financial adviser and joint broker to XL TechGroup. Altium Capital Limited is acting as underwriter, nominated adviser and broker to the company.
"We are pleased to see the international investment community's appreciation of our company's expertise, which has enabled us to raise these funds from institutions of the highest quality," said Dr. John Scott, Chairman and CEO of XL TechGroup. "This offering will certainly enable us to continue our efforts to develop more large-scale innovative technology companies in the future and create additional new jobs in Central Florida."
XL TechGroup, LLC (AIM:XLT), based in Melbourne, Florida, is a unique company creation and development business focused on identifying unmet market needs, matching dynamic new technology solutions, and building successful businesses that transform markets, primarily in the life sciences and technology sectors. Its most advanced businesses are AgCert International, LLC, a company involved in the creation of carbon emission credits from agriculture, and BioPesTech, LLC, which is developing a new class of non-toxic pesticides made from safe, natural oils. Through the creation, development and scaling-up of a number of such businesses, XL TechGroup aims to generate multiple returns for its investors from a single investment. For more information, please visit our web sites: http://www.xltg.com or http://www.agcert.com.