Medpal AI raises £5 million as revenue run rate increases

Medpal AI ($MPAL) conditionally raised £5 million before expenses through the issue of 100 million shares at 5 pence each. The company also reported an annualized revenue run rate above £35 million, compared with £28 million in its previous monthly update. The new shares expand funding capacity but also increase the share count for existing holders.

Its New Health clinic generated more than £1.5 million in revenue and processed over 12,000 orders during the first 19 days of the current month. Proceeds will support working capital, including the gap between medication purchases and customer or reimbursement receipts. The £35 million figure extrapolates current trading; it is neither revenue already earned over a full year nor a formal annual revenue forecast.

Sources:

• Medpal AI — issue of equity and trading update, RNS