Elixirr International PLC - London-based consultancy - Directors, partners and one shareholder sell in aggregate 988,445 shares through a placing at a price of 500 pence each, totalling GBP4.9 million.
Proceeds from the placing will go towards satisfying in part or full loans provided to them by the company to acquire shares before Elixirr's IPO in July 2020, therefore strengthening the company's balance sheet.
The directors taking part includes Non-Executive Chair Gavin Patterson, Non-Executive Directors Simon Retter, Charlotte Stranner, Chief Operating Officer Clare Filby and partners Brandon Bichler, Eric Rich and Nicholas Willott.
finnCap acted as sole bookrunner for the placing.
"Following a series of meetings requested by both new and existing institutional investors, it became apparent that demand for the ordinary shares was in excess of those readily available for sale. The selling partners recognise the strategic importance of a strong and supportive institutional shareholder base, hence have decided to release a portion of their own holdings in order to help satisfy this demand," Elixirr stated.
Current stock price: 501.50 pence
Year-to-date change: up 49%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Elixirr International (ELIX)