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Pires Investment PLC - London-based technology-focused investment company - Notes investee Low6 Ltd, an influencer-led sports betting platform, raises USD5 million in pre-initial public offering funding round. Low6's plan to IPO in 2022 remain on track, and will use the proceeds to continue growth, especially into the US market.
Pires invested GBP200,010 in Low6 in 2020, with further investments of an unspecified amount in the first half of 2021. UK-based investment company Gunsynd PLC also notes the announcement, having also invested GBP200,000 in Low6 as of July, which was around 1% of issued share capital at the time with a GBP65,000 convertible loan note.
Pires Investments current stock price: 5.94 pence, down 0.2% on Monday
12-month change: down 46%
Gunsynd current stock price: 0.83 pence, up 3.8% on Monday
12-month change: down 55%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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