(Alliance News) - YOLO Leisure & Technology PLC on Wednesday said it has raised GBP1.9 million before expenses to pursue its investing policy.
The AIM-listed technology firm said it issued 11.6 million new shares at a price of 16.0 pence each. The placing price represents a premium of 6.5% to the shares closing price on Tuesday, YOLO noted.
The stock closed 1.6% higher in London on Wednesday at 16.00p a share, giving it a market capitalisation of GBP11.5 million.
The company also said that each placee will receive one warrant for every share subscribed for, exercisable at 30.0p at any time from the date of issue up to the end of March 2021.
The net proceeds of the placing will be used to invest in opportunities in the fields of big data, machine learning, telematics and the internet of things.
The company sad it is currently actively considering a number of potential investment opportunities.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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