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LONDON - Vault Ventures Plc, a company focused on early-stage technology businesses in blockchain and fintech sectors, announced Monday a retail offer to raise up to £100,000 through its Winterflood Retail Access Platform (WRAP).
The company will issue up to 555,555,556 new ordinary shares priced at 0.018 pence per share, representing a 35 percent discount to the mid-market closing price on June 13. The retail offer runs alongside a separate £1.1 million placing announced earlier Monday.
The WRAP Retail Offer is open to eligible UK investors with a minimum subscription of £100. The offer is expected to close at 4:30 p.m. on June 20, with results anticipated around June 23.
Vault Ventures stated that proceeds from both the retail offer and the placing will be utilized for the same purposes, though specific details on fund allocation were not provided in the announcement.
Completion of the retail offer depends on the new shares being admitted to trading on the Access Segment of the Acquis Stock Exchange Growth Market, expected around June 26. While the retail offer’s completion is contingent on the placing being completed, the placing is not dependent on the retail offer.
The company noted that applications for shares once accepted cannot be withdrawn, and it reserves the right to scale back orders or reject applications without providing reasons.
Participating investors must be customers of intermediaries accessing the WRAP platform, with retail brokers wishing to participate instructed to contact Winterflood.
The announcement is based on a press release statement from Vault Ventures.
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