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LONDON - Braveheart Investment Group plc (AIM:LON:BRH) has conditionally raised approximately £135,000 before expenses via a placement of 6,750,000 new ordinary shares at a price of 2 pence each, the company announced today. This equity raise comes at a 43% discount to the closing mid-market price as of the day prior.
The funds from this placement are earmarked for general working capital purposes. Trevor Brown, the CEO of Braveheart, has personally subscribed for £60,000 of the new shares. Following the placement, Brown’s stake in the company will represent approximately 27.81% of the voting rights.
The placement was facilitated by Peterhouse Capital Limited, which is also offering a broker option for up to 5,000,000 additional new ordinary shares, potentially raising up to another £100,000. This option is aimed at enabling existing shareholders to participate in the placement and is exercisable until 4.30 p.m. UK time on May 20, 2025.
Braveheart’s decision to raise funds through this placement rather than selling off parts of its approximately £2.2 million AIM investment portfolio is based on the current market conditions and the positive outlook for these investments. The company’s current annual costs are around £400,000, against an income of approximately £100,000, with a cash balance of £73,000 as of May 15, 2025.
Admission of the new shares to trading on AIM is expected to take place at 8.00 a.m. on May 23, 2025, subject to the fulfillment of certain conditions, including no breach of obligations under the placement agreement and the admission itself.
Following the admission, the company’s issued ordinary share capital will consist of 70,473,489 ordinary shares, each carrying one voting right. This total may be used by shareholders as the denominator for notifications of interest changes under the FCA’s Disclosure Guidance and Transparency Rules.
This announcement is based on a press release statement and contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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