MelodyVR Group PLC - London-based virtual reality content and music streaming - Says PrimaryBid.com offer raises gross proceeds of GBP1.6 million through the placing of 48.5 million shares at a price of 3.3 pence each. On Monday, MelodyVR had said it agreed to issue GBP6.5 million in convertible loan notes to Swiss investment firm Nice & Green SA. The new funds will be used to develop and launch a new mobile app, following MelodyVR's reverse takeover of the company that owns music streaming pioneer Napster. MelodyVR intends to rename itself Napster Group PLC at the end of the month.
Current stock price: 3.17p
Year-to-date change: down 18%
By Lucy Heming;Â lucyheming@alliancenews.com
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