Tough spot | Fantastic results | Fund raise
News covered here includes fantastic results from an elderly small cap, without an adjustment in sight, or mention of the 'fairy tale' EBITDA. We also reflect on results from the world of brakes, cakes and musical instruments. (Free to read)
Surface Transforms tops up the coffers As anticipated, Surface Transforms (AIM:SCE), the manufacturer of “carbon-ceramic technology that provides the ultimate vehicle braking performance” has bolstered its stretched finances. Our recent in-recent depth commentary here: ‘Surface Transforms: great concept but re-think needed’ covered this interesting little business, which is experiencing some manufacturing challenges. SCE has now raised £8.3m at 10 pence per share, a discount of approximately 13% to the closing price the day before, but perhaps more significantly a discount of 75% to the £18m it raised previously in September 2022. We hope it manages to sort out its manufacturing.…