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LONDON - Vinanz Limited (BTC:L) announced Thursday the launch of a retail share offering to raise approximately £1 million through the issuance of about 7.3 million new ordinary shares at 13.75 pence per share.
The London Stock Exchange (LON:LSEG) Main Market-listed Bitcoin treasury company, which operates mining facilities across the United States and Canada, is making the offering available to eligible UK investors through the Winterflood Retail Access Platform (WRAP).
The company recently announced plans to change its name to London BTC Company Limited, according to the press release statement. In May, Vinanz reported adding 16.9 Bitcoin to its treasury with intentions to further increase its Bitcoin holdings.
The retail offering is expected to close at 4:30 p.m. on June 16, with admission of the new shares to trading anticipated for June 20. Participating investors must subscribe a minimum of £500, with applications being accepted through participating financial intermediaries.
Vinanz stated that proceeds will support the expansion of its business strategy as outlined in its recent LSE prospectus. The company noted that the retail offering is limited to a total value not exceeding €8 million.
Retail investors can participate through platforms including AJ Bell and Interactive Investor, with existing shareholders receiving email notifications about the offering. The company reserves the right to scale back orders or reject applications without providing reasons.
The offering is being made under UK exemptions from prospectus requirements and is not available outside the United Kingdom (TADAWUL:4280).
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