Christmas comes early – Fundraising and Interims

RUA have announced a Placing and Open Offer conditional on shareholder approval at a General Meeting (GM) – our financials assume the full amount of £7m, less costs, is raised.

Since acquiring RUA Medical, RUA Life Sciences has become a fully integrated medical device designer and manufacturer. When the fundraising completes, RUA will have the resources to accelerate the development of its products on which much of our valuation has been based.

We have updated our valuation for the expectations of the full amount raised by the conditional placing and Open Offer, increased share count, and our forecast for FY21 revenues of RUA Medical revenues (now that they are incorporated into those of RUA Life Sciences).

Our valuation of RUA increases to £115.2m, equating to 523p / share (corrected from note issued on 14 December)