Business
Revaluation of investment in PandaDoc, Inc.
Revaluation of investment in PandaDoc, Inc..
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \nRNS Number : 2326G TMT Investments PLC 25 May 2017 \n\n25 May 2017\n \nTMT INVESTMENTS PLC\n(\"TMT\" or the \"Company\")\n \nRevaluation of investment in PandaDoc, Inc.\n \nTMT Investments PLC, the venture capital company which invests in high-growth, technology companies across a number of core specialist sectors, is pleased to announce that its portfolio company PandaDoc, Inc. (\"PandaDoc\") has completed a US$15 million Series B equity financing round, led by Rembrandt Venture Partners, with participation from Microsoft Ventures, HubSpot, EBRD (via the EBRD Venture Capital Investment Programme), and Altos Ventures.\n \nThe transaction represents a revaluation uplift of US$740,262 (or 150%) in the fair value of TMT's investment in PandaDoc, compared to the previous reported amount as of 31 December 2016, and is equivalent to approximately 2.7 cents in additional net asset value per TMT share.\n \nAlexander Selegenev, Executive Director of TMT, commented: \"We are delighted with this positive revaluation of our investment in PandaDoc. As announced in our 2016 Annual Report, this is the first one of a number of positive revaluations we said we were expecting in 2017. With the growth rates PandaDoc has experienced since its previous financing round two years ago, it was just a matter of time before that success would be reflected in its valuation. It also provides yet another example of the revaluation lag attributable to many of our successful fast-growing portfolio companies.\"\n \nAbout PandaDoc\n \nPandaDoc helps organisations close more deals with automated proposals, contracts, quotes, and other business documents. Features include eSignatures, CRM integrations, data merge, building, editing, executing, tracking documents, and more. PandaDoc was founded in 2013 and is based in San Francisco, California. Learn more at www.pandadoc.com.\n \n \nFor further information contact:\n \n\n\n\n\nTMT Investments plc\nAlexander Selegenev\nExecutive Director\nwww.tmtinvestments.com\n \n\n\n+44 1534 281 843\[email protected]\n \n\n\n\n\nHybridan LLP\nBroker\nClaire Louise Noyce\n \n\n\n+44 20 3764 2341\n\n\n\n\nKinlan Communications\nDavid Hothersall\n \n\n\nTel. +44 20 7638 3435\[email protected]\n\n\n\n\n \nAbo...