Tintra PLC - Windsor, Berkshire-based firm building banking and infrastructure technology systems - Finalises a further subscription under the current funding round for 37,128 new ordinary shares priced at 504 pence each, raising USD250,000.
Notes that the subscription was made by a private equity professional based in New York City. It is anticipated to subscribe for a further USD2.0 million on the same terms. The documentation is currently in process.
Expects to complete both subscriptions and receive the funds during this month.
Plans to use the funds for the development of its artificial intelligence platform and regulatory licensing build, as well as for general working capital purposes.
The subscription is part of the company's fundraising plans that were laid out on November 4. Tintra aims to raise a total of USD10 million with several other subscriptions.
Current stock price: 180.60 pence, up 6.2% on Monday
12-month change: up sharply from 65.00p
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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