Silverbullet launches retail share offer to raise up to £60,000

LONDON - Silverbullet Data Services Group Plc announced Tuesday a retail offer through the Winterflood Retail Access Platform (WRAP) to raise up to £60,000 by issuing new ordinary shares.

The AI-driven digital transformation services provider will make available up to 200,000 new ordinary shares at 30 pence per share through the WRAP Retail Offer, according to the company’s statement.

The retail offer runs alongside a separate subscription announced Tuesday to raise approximately £500,000 through a bookbuild process at the same price of 30 pence per share. This represents a 5.3% premium to the mid-market closing price on Monday.

The WRAP Retail Offer is specifically targeted at existing Silverbullet shareholders in the United Kingdom (TADAWUL:4280), who can participate through their brokers or wealth managers. The offer is expected to close at 9:00 a.m. Wednesday.

"The Company values its retail shareholder base and believes that it is appropriate to provide its existing retail shareholders in the United Kingdom the opportunity to participate," Silverbullet stated in the press release.

A minimum subscription of £100 per investor applies to the retail offer. The company reserves the right to amend the size of the offer, scale back orders, or reject applications without providing reasons.

The new shares, when issued, will rank equally with existing ordinary shares, including rights to dividends and distributions. Admission to trading on AIM is anticipated to commence Thursday.

Completion of the WRAP Retail Offer depends on the completion of the subscription, though the subscription is not conditional on the retail offer’s completion.

The funds raised will be utilized in the same manner as the proceeds from the subscription, though specific details on use of proceeds were not included in the announcement.

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