Business
Fundraise of up to £27.9 million and other matters
Fundraise of up to £27.9 million and other matters.
About this update from Software Circle Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT, INCLUDING ITS APPENDICES AND THE INFORMATION HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, RUSSIA, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, NEW ZEALAND, SINGAPORE OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) (\"UK MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n29 August 2023\n \nGrafenia plc\n(\"Grafenia\" or \"the Company\" or the \"Group\")\n \nPlacing and Subscription to raise approximately £23.0 million\n \nOpen Offer to raise up to approximately £4.9 million\n \nand\n \nNotice of General Meeting\n \nGrafenia plc (AIM: GRA) is pleased to announce a Fundraising to raise a total of up to approximately £27.9 million (before expenses), comprising a conditional Placing and Subscription, supported by new and existing investors, and a conditional Open Offer to Qualifying Shareholders.\n \nFundraising highlights\n \n· Placing and Subscription to raise approximately £23.0 million at an Issue Price of 8.5p per New Ordinary Share\n \n· Open Offer to Qualifying Shareholders to raise up to approximately £4.9 million at an Issue Price of 8.5p per New Ordinary Share\n \n· The Issue Price represents a discount of 17.1 per cent. to the closing mid-market price of 10.25p per ordinary share on 25 August 2023\n \n· Fundraising proceeds to be used to:\n§ fund future acquisitions;\n§ repurchase certain of the Company's existing bond arrangements; and\n§ pay deferred consideration o...