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LONDON - Blackbird plc (AIM:BIRD), a technology company specializing in cloud-native video editing platforms, announced Monday it has conditionally raised approximately £2.13 million (before expenses) through a combination of placing, subscription, and retail offer.
The retail offer, which closed Monday morning, raised £129,163.83 and will result in the issuance of 4,305,461 shares. This follows the company’s announcement on July 3 that it had conditionally raised approximately £2 million through a placing and subscription.
The fundraising has been structured in two tranches. The first tranche of 38,707,718 firm placing shares is expected to be admitted to trading on AIM on Tuesday, July 8. The second tranche, comprising 4,305,461 retail offer shares, 4,499,997 subscription shares, and 23,458,942 conditional placing shares, is expected to commence trading on July 28, subject to shareholder approval.
Completion of the retail offer, subscription, and conditional placing depends on passing a resolution at a general meeting scheduled for July 24. The company stated it would post a circular to shareholders containing details of the fundraising and incorporating the notice of the general meeting.
Upon completion of the second admission, Blackbird’s issued ordinary share capital will consist of 458,049,306 shares, with one vote per share.
Blackbird develops and sells cloud-native video editing platforms, including its flagship Blackbird platform and the multiplayer editor elevate.io.
This information is based on a press release statement from the company.
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