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LONDON - Sundae Bar Plc (AIM:SBAR), a company developing a marketplace for AI Agents, announced Tuesday the launch of a retail offer to raise up to £100,000 through the issuance of new ordinary shares.
The retail offer, conducted via the Winterflood Retail Access Platform (WRAP), follows a separate £1 million placing announced earlier in the day. The company is offering up to 1,666,667 new ordinary shares at 6 pence per share, matching the price of the institutional placing.
The share price represents a 17% discount to the closing price on October 27. Both the retail offer and the previously announced placing will fund the same corporate initiatives, though the company did not specify the exact use of proceeds in its announcement.
Eligible UK investors, both new and existing shareholders, can participate with a minimum subscription of £100. The retail offer is expected to close at 4:30pm on October 29, with results anticipated to be announced around October 30.
The company noted that admission of the new shares is expected to become effective on the AIM market around November 5.
Sundae Bar reserves the right to amend the size of the offer and to scale back or reject applications without providing reasons. The company emphasized that applications, once accepted, cannot be withdrawn.
The announcement specified that the retail offer is only available to UK investors and is being made under exemptions from the requirement to publish a prospectus under UK financial regulations.
This article is based on a press release statement from Sundae Bar Plc.
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