LONDON - Inspired plc (AIM: INSE), a technology-enabled service provider focused on solutions for businesses transitioning to net-zero and managing climate change response, has announced a retail offer to raise up to £2 million. The offer, which opened Monday afternoon, will involve the issuance of new ordinary shares at an issue price of 40 pence each.
The retail offer is part of a larger fundraising strategy by the company to secure £28.25 million in total funds. This strategy includes a separate placing with attached warrants to raise £21.25 million and the issue of £5 million in convertible loan notes. The retail offer, distinct from the placing, will not entitle participants to warrants.
The issue price of the shares represents a 1.3% premium over the closing mid-market price of Inspired plc's existing ordinary shares as of the last practicable date before the announcement.
Proceeds from the retail offer are earmarked to strengthen the company's balance sheet, complementing the broader fundraising effort. The offer's success is contingent upon the completion of the overall fundraise and the subsequent admission of the retail offer shares to trading on the AIM market operated by the London Stock Exchange (LON:LSEG).
The retail offer shares, upon issuance, will be fully paid and will rank equally with the existing ordinary shares of Inspired plc, including rights to dividends and distributions declared after the date of issue.
The offer is scheduled to close on Wednesday afternoon, with results expected to be announced the following day. Trading of the retail offer shares on AIM is anticipated to commence on January 8, 2025.
This initiative reflects Inspired plc's commitment to involving its retail shareholder base in the United Kingdom (TADAWUL:4280), acknowledging their longstanding support. The offer is being coordinated by Shore Capital Stockbrokers Limited, with participating intermediaries listed on a dedicated website.
The information in this article is based on a press release statement from Inspired plc.
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