Ilika plc Announces £3.5 Million Capital Raising to Boost Battery Technology

Ilika plc ( (GB:IKA) ) has shared an announcement.

Ilika plc has announced a proposed capital raising of approximately £3.5 million through a combination of a placing, retail offer, and director subscriptions. The funds will be used to advance the commercial status of its Stereax and Goliath product lines, supporting technology transfer, testing, and customer engagement. This move is expected to enhance Ilika’s market positioning by facilitating the commercial launch of its small format Stereax technology and the development of its large format Goliath technology, potentially leading to commercial licensing agreements.

The most recent analyst rating on (GB:IKA) stock is a Buy with a £97.00 price target. To see the full list of analyst forecasts on Ilika plc stock, see the GB:IKA Stock Forecast page.

Spark’s Take on GB:IKA Stock

According to Spark, TipRanks’ AI Analyst, GB:IKA is a Underperform.

Ilika plc’s stock is significantly hampered by its financial instability, characterized by declining revenues and negative cash flows. Despite promising developments in its battery technology and strategic partnerships, these advancements are yet to translate into substantial financial gains. The technical indicators also reflect a bearish market sentiment, and the valuation metrics do not currently appeal to investors seeking immediate returns.

To see Spark’s full report on GB:IKA stock, click here.

More about Ilika plc

Ilika plc is a global leader in the development of solid-state battery technology, catering to industries such as electric vehicles, medical devices, and consumer appliances. The company offers two main product lines: Stereax, designed for miniature medical implants and IoT applications, and Goliath, aimed at electric vehicles and cordless appliances. Ilika operates an asset-light business model, focusing on technology development and licensing, supported by a robust intellectual property portfolio.

Average Trading Volume: 274,251

Technical Sentiment Signal: Hold

Current Market Cap: £55.48M

Learn more about IKA stock on TipRanks’ Stock Analysis page.