Surface Transforms

Cavendish is delighted to have acted as Joint Broker and Joint Bookrunner for Surface Transforms Plc’s successful fundraise. The open offer was significantly oversubscribed, enabling the board to extend the offer from the initial £2 million to £3 million, making a total of £9.5 million raised from the placing, subscription, and open offer.

Surface Transforms (AIM: SCE), manufacturers of carbon fibre reinforced ceramic automotive brake discs, raised £6.5 million through the placing and subscription of shares, and offered an additional opportunity to shareholders via an open offer. The funds will support the company’s working capital needs and scale-up of their manufacturing capacity, further strengthening their position in the market.

Andrew Burdis, Corporate Broking Director at Cavendish, commented:

 “We are pleased to support Surface Transforms in this significant fundraising effort. The strong response from investors underscores the support for the company’s growth strategy and its innovative technology in the automotive sector”.