14th Sep 2021 17:46
Kape Technologies PLC - Isle of Man-headquartered digital security software provider - Raises USD354 million from a share placing and USD2.5 million via its retail offer on the PrimaryBid platform. The fundraise was multiple times oversubscribed. Kape says a total of 76.5 million new shares will be issued pursuant to the fundraise at a discounted issue price of 337.50 pence per share.
Kape says is pleased with the "very strong response" to the fundraise from new and existing institutional shareholders, including a number of blue-chip institutional investors from the UK, US, Israel and Asia and through the PrimaryBid retail offer.
The net proceeds will be used to fund the upfront fee for the acquisition of the ExpressVPN business, it adds. On Monday, Kape said it would acquire ExpressVPN from Access Global Ltd for USD936 million.
"We are delighted with the strong support shown by both new and existing investors which enables us to proceed with our transformational acquisition of ExpressVPN," says Chief Executive Officer Ido Erlichman.
Current stock price: 337.50p
Year-to-date change: up 76%
By Arvind Bhunjun; [email protected]
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