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(Alliance News) - Mirriad Advertising PLC on Thursday said its previously announced open offer saw a 31% uptake, resulting in a GBP1.2 million capital raise.
The advertising software developer received valid acceptances in respect of 8.1 million open offer shares, around 31% of the 26.3 million shares offered. The open offer closed on Tuesday and the company has instructed its fundraising managers to procure subscribers for remaining open offer shares.
In total, the company raised GBP15.4 million through a share placing and open offer announced earlier in July.
Mirriad raised GBP14.2 million through a 94.5 million share placing priced at 15 pence per share. It hoped to raise an additional GBP3.9 million through the open offer.
Shares in Mirriad were up 5.6% at 16.10p on Wednesday afternoon, giving the company a market capitalisation of GBP16.9 million.
