Portfolio

Craven House raises $2m via placing with new investor

By Josh White

Date: Tuesday 18 Feb 2020

Craven House raises $2m via placing with new investor

(Sharecast News) - Craven House Capital has raised $2m (?1.53m) gross via a placing, it announced on Tuesday.
The AIM-traded firm said the placing was with a new investor for 200,000 new ordinary shares, at a price of $10 each.

"Whilst this does represent a 117% premium to the closing mid-market price on 17 February, it represents a 1.1% premium to the last audited net asset value per share of $9.89 as at 31 May," the board said in its statement.

"The proceeds of the placing ... will be used for working capital purposes and to undertake further investments."

Craven House noted that the placing shares represented 7.01% of its existing outstanding issued share capital.

It said application would be made for admission of the 200,000 new ordinary shares to trading on AIM, which was expected to take place at 0800 GMT on or around 24 February.

At 1254 GMT, shares in Craven House Capital were up 15.22% at $5.30 in London.

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