LONDON (ShareCast) - (Sharecast News) - Thruvision Group announced the conclusion of its strategic review and a proposed capital raise of at least £2.5m on Friday, to support its growth strategy as a standalone business.
The AIM-listed security technology firm said the placing was oversubscribed, raising £2.125m through the issue of 212.5 million new shares at 1p each, a 29% discount to the prior closing price.

A further £375,340 was expected from a director and employee subscription once the company exits its closed period.

In addition, Thruvision said it planned to offer retail investors the opportunity to participate via a separate retail offer of up to £250,000 through the Winterflood Retail Access Platform.

The proposed fundraising, which could see the company issue up to 158% of its existing share capital, remained subject to shareholder approval at a general meeting on 28 July.

Admission of the new shares to AIM was expected on 30 July.

Executive Chairman Tom Black and CEO Victoria Balchin were among those subscribing.

Black would take up 20 million shares, increasing his stake to 7.5%, while Balchin would subscribe for 10 million shares.

The board opted to pursue continued independent operations rather than a sale of the company or its subsidiaries, following improved performance in the first quarter of the 2026 financial year.

Recent changes to the management and sales strategy, along with the launch of the new Thruvision 81 Series and the addition of 11 new customers, had contributed to a 145% increase in first-quarter order intake year-on-year.

The company said it also secured a new contract worth over £1m from an Asian government customer.

"The group's standalone option is the best available path forward," the board concluded, noting improving commercial momentum and near-term revenue opportunities.

If the capital raise did not proceed, the company warned it could be forced to consider alternative funding options or the sale of all or part of the business.

The proceeds would be used for working capital and to support sales, marketing, and product development.

Thruvision's board said it believed the funds would provide sufficient runway to reach cash flow breakeven in the 2027 financial year on the basis of £10m in revenue.

Major shareholders Schroders, Pentland Capital, and Herald Investment Management participated in the placing.

Their involvement constituted related party transactions under the AIM rules, which the board, advised by Investec, deemed fair and reasonable.

At 1131 BST, shares in Thruvision Group were down 7.64% at 1.29p.

Reporting by Josh White for Sharecast.com.

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