7th Dec 2020 21:06
Asimilar Group PLC - investment firm focused on big data, machine learning, telematics and the Internet of Things - Invests GBP298,204 into Magic Media Works through subscription to 298,204 loan notes at GBP1.00 each.
Interest will be paid on loan notes at 5%, annually in arrears on the anniversary of the loan note subscription. Loan notes expire on January 31, 2026. Investment is part of a wider equity and loan note fundraise of up to GBP13 million by Magic Media Works, which is being led by Sun Capital Partners.
Asimilar now holds 1.6 million shares in Magic Media Works, in addition to a pre IPO loan note of GBP500,000.
Current stock price: 31.00 pence
Year-to-date change: flat
By Dayo Laniyan; [email protected]
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