MedPal AI Raises GBP5 Million via Share Placement

MedPal AI (MPAL.L, Z1N.F) raised 5 million pounds sterling by placing 142,857,133 new shares at 0.035 pound per share, according to a Friday filing. The digital health and pharmacy group will use the proceeds to fund its planned acquisition of electronic medicines administration record software business Solid State Technologies. The company will also use the proceeds to invest in stock and patient acquisition for the upcoming launch of Novo Nordisk's (NOVO-B.CO) weight-loss pill Wegovy in the UK, as well as for general working capital. Separately, the company will issue 10,942,857 new shares to settle certain existing contractual obligations.