EnSilica (LSE:ENSI) has raised approximately £14 million through an oversubscribed placing and subscription priced at 91 pence per share. The company will issue more than 15.3 million new shares to institutional investors, alongside a smaller subscription, with the proceeds earmarked to accelerate product development, fund new customer projects and support its growing contract pipeline across key semiconductor markets.
The capital raise has been structured in two stages due to the company’s existing share issuance authorities. The first tranche, worth £10.73 million, has already been conditionally arranged, while the remaining £3.27 million, together with a retail offer, is subject to shareholder approval later this month. The fundraising will also alter EnSilica’s shareholder register, increasing Esterhuyzen Limited’s holding to approximately 16.6% and slightly reducing Chief Executive Ian Lankshear’s percentage ownership. Admission of the new shares to AIM will also increase the company’s free float.
EnSilica’s investment outlook continues to be weighed down by weaker financial performance, including lower revenue, ongoing losses and declining free cash flow. While recent share price momentum has been positive, technical indicators suggest the stock may be entering overbought territory, increasing the risk of a short-term pullback. Valuation also remains challenging as the company is not yet profitable and does not currently pay a dividend.
More about EnSilica PLC
EnSilica PLC is a UK-based fabless semiconductor company specialising in the design of application-specific integrated circuits (ASICs). Its expertise spans radio frequency (RF), millimetre wave (mmWave), mixed-signal and complex digital integrated circuit design, serving customers across the space, communications, industrial and automotive sectors.
The company combines a portfolio of reusable intellectual property with silicon platform technologies to reduce development times and generate long-term supply revenues. EnSilica operates design centres in the UK, India, Brazil and Hungary, supporting customers with custom chip development for a range of advanced applications.
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