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Creotech Instruments SAUPDATE: Creotech secures total of PLN 76 mln from K series share offering
Listed spacetech company Creotech Instruments has concluded agreements to acquire 475,000 series K shares in the company at an issue price of PLN 160 (EUR 38.48) per share, bringing the total amount to PLN 76 million (EUR 18.3 million), the company said in a market filing.
The shares were issued based on the extraordinary general meeting resolution of January 30, 2025.
As stated, the raised funds will allow the company to partially finance its Mikroglob Satellite Earth Observation System project, which will cost a total of PLN 453 million (EUR 108.6 mln).
"The company has raised PLN 76 million gross, which it intends to use both for the Mikroglob project and for investments that will contribute to an even faster growth rate for the company," said, quoted in the market filing, CEO Grzegorz Bron.
"Our goal for the coming years is to become the leading supplier of microsatellite technology in the European Union for defence and commercial projects. We also want to strongly develop the quantum segment, which is ultimately to become an equal pillar of our business, alongside space," he added.
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