5th Apr 2023 16:40
B90 Holdings PLC - Online marketing and operating company for the gaming industry - Raises a further GBP1.1 million through subscriptions for convertible loan notes by existing and new investors in the company. The net proceeds raised will be used to develop growth initiatives and for general working capital purposes.
The loan notes have a term of three years from issue, and are convertible no earlier than January 1, 2024, at a 10% discount to the volume weighted average price for the five trading days prior to conversion. They carry a coupon of 10% per annum.
Interim Executive Chair Ronny Breivik says: "The business has continued to perform in line with management expectations and our recent fundraisings are being deployed to invest in marketing operations and customer service. Investment in our business operations is driving organic growth and we are making meaningful progress in identifying value accretive acquisitions."
Current stock price: 6.30 pence, up 30%
12 month change: up 0.8%, with total market capitalisation of GBP17.7 million
By Holly Beveridge, Alliance News reporter
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