MedPal AI (MPAL) has raised about £303,355 through the issue of 6,055,000 shares at an average price of 5.01p per share under its At-The-Market (ATM) equity issuance facility.
As a result, total gross proceeds raised under the ATM facility amount to £1,993,100, close to the £2 million maximum permitted under the programme, which was subject to a minimum price of 5p per ATM share. The facility has now closed, providing net proceeds of ~ £1,843,617.
The proceeds will provide additional working capital for the company’s recently established online pharmaceutical subsidiary, MedPal Limited. In particular, the funding will support increased stock levels, expansion of product lines and marketing campaigns aimed at growing both MedPal Pharmacy and Medpal.clinic.
Application has been made for the 6,055,000 new shares to be admitted to trading on AIM. Admission is expected to become effective and dealings in the new shares are expected to commence on or around 3 March 2026.
Following admission, the company’s issued ordinary share capital will comprise 455,154,640 ordinary shares, each carrying one voting right.
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This final drawdown brings MedPal AI’s ATM facility effectively to its £2 million ceiling and removes a near-term funding overhang. While the issuance results in further dilution, the capital is clearly directed towards inventory expansion and marketing across its pharmacy and clinic operations.
Going forward, investors will look for evidence that the additional working capital translates into stronger revenue growth and improved operational traction within the enlarged digital health platform.