3rd Jul 2025 11:33
Blackbird PLC - London-based video editing software for media and entertainment industry - Aims to raise GBP2.2 million in total from a placing, subscription and retail offer of new shares, with the proceeds to be used to fund the roll-out of collaborative video editing and content creation platform elevate.io. The placing with existing and new institutional investors is expected to raise GBP1.9 million, while a subscription by Executive Chair Ian McDonough and other directors will raise a further GBP135,000. A retail share offer will raise up to a further GBP200,000. The offer at 3 pence per share will be led by broker Allenby Capital Ltd. Blackbird calls a July 24 general meeting to approve the equity sale.
"elevate.io has shown strong early growth metrics since the launch of the 'creator plan' in February 2025," McDonough says. "The fundraise announced today will support elevate.io through its product market fit phase, ahead of scaling up. Our vision for elevate.io is ambitious, transformative and on track."
Blackbird says elevate.io is targeting the USD6.9 million 'monetise creators' segment of the USD250 billion 'creator economy'.
Current stock price: 3.10p, down 27% in London on Thursday morning
12-month change: down 49%
By Tom Waite, Alliance News editor
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