DeepMatter (LON: DMTR) shares plunged more than 60% on Thursday after the company said it plans to delist its shares from the AIM following discussions with major shareholders and potential institutional investors regarding securing working capital.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
The digital chemistry data and software firm said following the discussions, it has concluded that a delisting and re-registration as a private limited company will provide increased opportunities to raise additional capital. The move is supported by the company’s major shareholders.
Interested in investing after today’s move?
XTB gives investors access to thousands of UK and international stocks,
including fractional shares from just £1.
Explore stocks with XTB →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Want to invest in the stocks making the news?
Go from following the market to investing in it, with access to thousands
of stocks across major UK and international markets.
See available stocks →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Own the stocks you’re reading about
Invest in real shares across the UK, US and other major global markets
through XTB, all from one investment account.
Explore XTB shares →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
You don’t need to buy a whole share
Fractional shares let you invest from just £1, giving you more control
over how much you put into individual companies.
Explore fractional shares →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Want to see how XTB works first?
Explore the platform with an XTB demo account before deciding whether
you want to invest with real money.
Try the XTB demo →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
“The company anticipates it will seek to raise c.£1m from its major shareholders ahead of the Delisting, following which a more substantial capital raise would be pursued as a private limited company in 2023. This capital raise is being undertaken in order to fund the long term growth ambitions of the company,” DeepMatter said in its statement.
The company reiterated its guidance for the financial year, saying it continues to expect revenue to be no less than £1.5 million, with its cash and short-term receivables at £0.7 million.
Despite already falling significantly since its 2019 highs of over 4p per share, the stock plummeted more than 60% in Thursday’s session. At the time of writing, it is down 52.5% at 0.057p per share.
