(Alliance News) - CentralNic Group PLC on Friday said it has raised GBP30 million through a private placing of 40 million shares at 75 pence each.
The domain name registry and registrar services firm said the placing price represents a 6.0% discount to the Thursday closing price of 79.95p. The total shares placed amounted to 21% of its issued share capital.
The stock was trading 5.6% higher at 84.19p each on Friday afternoon in London, giving it a market capitalisation of GBP164.2 million.
CentralNic said the new cash will be used to fund the consideration and fees for the USD36 million acquisition of Codewise, a monetisation and marketing technology business which offers digital solutions. The deal includes buyout of Zeropark, an ad exchange platform connecting domain investors and other traffic providers with online marketers, and Voluum, a software-as-a-service analytics, measurement, optimisation and media buying tool.
In the 12 months to June 30, Codewise generated revenue of USD60.3 million and pro forma adjusted earnings before interest, tax, depreciation, and amortization of USD7.4 million.
Following admission of the new shares, CentralNic will have 232.1 million shares in issue.
By Ife Taiwo; ifetaiwo@alliancenews.com
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