Virtual reality group to raise £1m in share placing
Virtual reality group Immotion plans to raise £1.3m through an equity fundraising.
The Salford-based company says it "remains confident in its core strategy" despite the disruption and delays caused by Covid-19.
It believes its "installed base and contracted pipeline provide a path to profitability once trading conditions return to pre-COVID-19 levels".
Immotion has sought to reduce costs, with cash operating costs reduced by more than one-third, to around £200,000 in April. It has furloughed some staff in the UK and USA an... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
