i-nexus Global PLC - Coventry-based business management software - Plans to raise GBP650,000 through the issue of fixed rate unsecured convertible redeemable loan notes. Proceeds from the issue will go towards working capital to allow the sales and pipeline momentum to be reflected within operating results.
Conversion price reflects a premium of 55% to the closing price of 6.45 pence on Friday last week.
"The recent traction we have seen in our sales pipeline has given us much cause for optimism, however this positive progress will take time to flow through into our financial results. We are therefore grateful for the continued support of our investors, providing us with the funding to execute on our strategy in the near term," says Chief Executive Officer Simon Crowther.
Current stock price: 6.19 pence, down 4.0%
Year-to-date change: up 13%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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I-nexus Global. (INX)