Small caps news round-up

Imaginatik shares fell on Wednesday after the software company proposed a £2.1m fundraising to boost its balance sheet. The group will raise the funds by way of placing 63,263,520 new ordinary shares worth £1.6m and an open offer of up to 21,277,896 new ordinary shares worth £0.53m.

Judges Scientific, the acquisitive scientific instrument group, has warned investors full year profits could be in danger as bookings have not picked up after their usual slow seasonal start to the year. In March the AIM-listed buy-and-build company said order bookings, as in the previous two years, had been low over the first ten weeks of 2016.

AIM-listed Sweett Group, which provides professional services for the construction and management of building and infrastructure projects, has agreed to be bought by Canada’s WSP Global Inc for around £24m. The offer represents a premium of approximately 52.2% to Sweett’s closing price of 23p on Tuesday, which was the last business day prior to the announcement. It also represents a 73.6% premium to the six-month average price per share of 20p.

Circassia Pharmaceuticals kicked off phase-three trials for its grass allergy treatment, the second imunotherapy programme for which it was seeking regulatory approval, and said it was on-track to report the results of its phase-three clinical trials for its Cat allergy treatment using its SPIRE technology platform. The latest phase-three test was broken into two parts, with results form Part A due in the second half of 2017 and those from Part B, which would be conducted on a larger population size, due in the backhalf of 2018.