(Alliance News) - Blue Prism Group PLC on Tuesday said it has raised GBP100 million through the placing of 9.1 million shares at 1,100 pence each.
Shares in the enterprise software company were trading 12% higher at 1,289.40p each.
The result of the placing was exactly in line with the fundraising plan set out by the company on Monday afternoon.
Blue Prism said a number of directors participated in the placing, subscribing for a total of 115,909 shares. Executive Chair Jason Kingdon - who will take over as chief executive from Alastair Bathgate on April 30 - subscribed for 90,909 shares, while Bathgate subscribed for 18,182 shares, taking their stakes to 6.3% to 5.4% respectively.
Bathgate's departure was announced by Blue Prism, together with the placing plan, on Monday.
Following admission of the new shares, the company will have 92.3 million shares in issue.
Blue Prism said the new cash will provide it with additional balance sheet strength in case of prolonged disruption caused by the Covid-19 pandemic, support its progress to cash flow break-even, and allow it to capitalise on potential near-term and future market opportunities.
By Ife Taiwo; ifetaiwo@alliancenews.com
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