Cambridge Cognition falls short with £6m IPO
This article was originally published in Clinica
UK neuropsychological test developer Cambridge Cognition has succeeded in going public but, like many of its peers carrying out IPOs recently, has only raised a fraction of its target amount. The company raised a total of £6.4 million ($9.8 million): £5 million from the placement of new ordinary shares; and £1.4 million through the sale of existing ordinary shares, all priced at 70p each. However, Cambridge Cognition had originally hoped to bring in up to £15 million from the IPO (www.clinica.co.uk, 26 March 2013). The company, which is now listed on the London Stock Exchange's AIM market under the ticker symbol COG, has a market cap of around £11.8 million.