Allenby Capital - Blackbird plc - Update

Blackbird has conditionally raised £2.1m gross proceeds through a Placing, Subscription and Retail Offer at 3.0p per share, a 29.4% discount to the closing price on 2 July. The net proceeds are intended support further growth and strategic investment in elevate.io. The product is working well and developing at pace with user numbers growing rapidly and an increased conversion rate to paid users, on limited marketing spend. 54% of website visitors convert to users and the CAC has fallen 55% since the payment launch in February 2025. elevate.io offers a scalable, cloud-based and collaborative content creation platform across a range of end users in the Creator Economy and Corporate sector, a major global addressable market, estimated to be...