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IN BRIEF: 7digital Raises GBP6 Million Through Fundraising

Thu, 03rd Sep 2020 19:33

7digital Group PLC - London-headquartered digital music and radio services platform - Raises GBP6.0 million in oversubscribed placing and subscription of 266.7 million shares at 2.25 pence each. Proceeds from fundraising will go towards supporting immediate and medium term growth opportunities, in particular home fitness, artist monetisation and social media.

Placing price reflects discount to Wednesday's closing price of 2.95p. Arden Partners acted as nominated adviser and broker in connection to the placing.

Current stock price: 2.32 pence

Year-to-date change: up significantly from 0.17p

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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