10th May 2021 14:16
RiverFort Global Opportunities PLC - investment adviser - Agrees to invest EUR1.4 million in Smarttech247, a global artificial intelligence-based cyber security cloud business. The investment will be via a convertible loan note and will form part of an overall fundraising by Smarttech247 of EUR2.5 million. The convertible loan note carries a coupon of 5% and is expected to convert on a sale or listing of the company.
At the same time, RiverFort places 96.5 million new shares to raise gross proceeds of GBP1.6 million in cash at a price of 1.7 pence per share, representing a 13% discount to the closing mid-market price on Friday last week. The purpose of the placing is to provide funding both for the investment in Smarttech247 and for other investment opportunities.
Current stock price: 2.00p, up 2.6% on Monday
Year-to-date change: more than doubled from 0.97p on December 31
By Evelina Grecenko; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Riverfort