Surface Transforms Announces Open Offer to Raise £6.5 Million

Surface Transforms (SCE) is initiating an Open Offer to raise £6.5 million in new equity to enhance production capabilities and quarterly revenue. Despite having tackled major pinch points in the production line through significant capital expenditure and the engagement of expert maintenance teams, SCE faces ongoing challenges. Notably, issues with scrappage remain as production volumes increase, which combined with lower than anticipated production volumes, necessitates additional working capital.

These financial endeavors aim to support SCE's operational improvements and its commitments in delivering products to various original equipment manufacturers (OEMs). The open offer indicates SCE's proactive measures in scaling operations and addressing productivity challenges.