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LONDON - Blackfinch Spring VCT plc announced Thursday the publication of a prospectus for a new share offering to raise up to £20 million, with an over-allotment facility that could bring the total to £40 million.
The venture capital trust’s offer opens September 11, 2025, and will close no later than August 24, 2026, unless the board decides to end it earlier.
According to the prospectus, Blackfinch Investments Limited (BIL), the company’s investment manager, will receive a fee of up to 5.5% of gross funds raised for procuring subscribers. BIL will also serve as the receiving agent for the offer, earning a £10,000 fee plus 0.12% of subscription monies raised.
The company noted that BIL is considered a related party under UK Listing Rules, requiring disclosure of these fee arrangements. The board confirmed it considers these transactions fair and reasonable for shareholders, based on advice from the company’s sponsor, Howard Kennedy Corporate Services LLP.
Blackfinch Spring VCT also reported its unaudited net asset value per ordinary share stands at 96.4p as of August 8, 2025, following the payment of a 2.7p interim dividend on that date.
The prospectus will be available for inspection at the National Storage Mechanism and on the company’s website.
The information in this article is based on a press release statement issued by Blackfinch Spring VCT plc.
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