Velocys set to succumb to £4.1m bid; consortium will pump in an extra £31.5m.
An acquisition car backed by personal fairness, inexperienced traders and a Singapore-based fund, has bid £4.1 million in money for Velocys PLC, the aviation gas manufacturing firm.
As well as, the consortium behind Madison Bidco has agreed to stump up round £31.5 million in development capital post-takeover.
The deal features a secured bridging mortgage of £3.5 million from the Carbon Direct Fund to help Velocys till the transaction is accomplished.
At 8.39 am, the inventory was altering palms on the 0.25p provide value (up 5%).
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Velocys set to succumb to £4.1m bid; consortium will pump in an extra £31.5m, December 5, 2023
