(Sharecast News) - Software firm Kape Technologies has successfully raised gross proceeds of approximately $354.0m by way of a share placing and an additional approximately $2.5m as part of a retail offer.
Kape Technologies said on Tuesday that, in aggregate, a total of 76.54m new ordinary shares will be issued at a price of 337.5p per share.
The AIM-listed firm highlighted that the fundraise was multiple times oversubscribed, with net proceeds of the fundraiser set to be used to fund the upfront consideration for its $936.0m acquisition of virtual private network operator ExpressVPN.
Chief executive Ido Erlichman said: "We are delighted with the strong support shown by both new and existing investors which enables us to proceed with our transformational acquisition of ExpressVPN."
As of 1020 BST, Kape shares had rallied 12.46% at 397.55p.
20 Jun 2023 15:32
Best of the Best receives GBP45.3 million takeover offer
(Alliance News) - Best of the Best PLC announced on Tuesday it has received a takeover offer from Globe Invest Ltd, valuing the firm at around GBP45.3...