21st Mar 2022 11:24
Ondo InsurTech PLC - Walsall, West Midlands-based detection of micro-leaks of water - Starts dealings on London Main Market, after completes reverse acquisition of HomeServe Labs Ltd from Homeserve PLC and changes name from Spinnaker Acquisition. HomeServe Labs trades as LeakBot Ltd and helps home insurers reduce claims by detecting small water leaks before they cause damage. The deal was announced back in December, with Spinnaker paying with cash, new shares and loan notes. Ondo InsurTech raises GBP3.4 million in fresh equity at 12 pence per share. The funds will be used over the next 12 months for partner development and IT system improvements. Has GBP8.2 million market capitalisation at the offer price, with 68.2 million shares in total. Read More