Ilika plc (LSE:IKA) has launched a retail share offer through the BookBuild platform to raise up to £0.5 million by issuing as many as 1,785,714 new ordinary shares at 28 pence each. The offer follows the company’s previously announced £4.56 million placing and director subscription at the same issue price. Together, the fundraising will finance the commercial rollout and production scale-up of Ilika’s Stereax solid-state micro-batteries while advancing its Goliath large-format battery programme towards future licensing agreements, supporting the transition of both technologies into revenue-generating phases.
Up to £2 million of the proceeds will be directed towards the Stereax business, including product optimisation with Cirtec Medical, testing and validation of the M300 battery, and the commencement of royalty payments. A further £3 million is expected to fund the Goliath programme through prototype refinement, production optimisation, equipment purchases, product testing and the delivery of a minimum viable 10Ah battery. The retail offer, managed by Cavendish and Yellowstone and open to existing UK shareholders, is expected to see the new shares admitted to AIM on 9 July 2026, reinforcing the company’s commitment to its retail investor base.
Ilika’s outlook continues to be affected by weak financial performance, including declining revenue, ongoing losses and negative operating and free cash flow. However, strong technical momentum and progress towards commercialisation provide some encouragement. Recent updates on product development and commercial milestones offer additional support, although continued cash burn, uncertainty around the timing of licensing agreements, and the absence of earnings or dividend payments remain key considerations for investors.
More about Ilika plc
Ilika plc is a UK-based advanced materials company specialising in solid-state battery technology. The business is developing two core product platforms: Stereax micro-batteries for applications including medical devices and industrial electronics, and Goliath large-format batteries designed for higher-capacity energy storage markets. Its strategy focuses on commercial deployment and licensing partnerships to accelerate the adoption of its battery technologies.
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