Haydale Graphene Industries PLC (LON:HAYD) has raised £1mln in additional finance through a £750,000 loan and £250,000 share subscription.
The loan is a 16-month facility from the Development Bank of Wales and carries a coupon of 11%.
The share subscription was priced at 20p, a discount of 21.6% to the close yesterday.
Haydale has also appointed Laura Redman-Thomas as its new chief financial officer and will take over from Matt Wood with immediate effect.
Roger Smith and Ray Gibbs are to step down as directors.
David Banks, Haydale’s executive chairman, said the Development Bank of Wales undertook extensive due diligence before agreeing to the loan.
Redman-Thomas previously worked at Stadium Group and De la Rue and will bring a commercial and professional approach to the group, he added.