8th Oct 2024 08:38
Kooth PLC - London-based provider of digital mental health care - Root Capital Fund II LP, via ScaleUp Capital General Partner LLP, sells 3.8 million Kooth shares at 280 pence each, worth GBP10.5 million. The share placing, run by Stifel Nicolaus Europe Ltd as sole bookrunner, was first announced after the London market close on Monday, and the price and amount were as planned. The shares sold represent a 10.3% stake in Kooth. Root Capital retains 9.2 million shares, a 25.3% stake.
Kooth last month said it swung to a pretax profit of GBP5.0 million in the first half of 2024 from a GBP1.7 million loss a year before, as revenue more than doubled to GBP32.5 million from GBP11.7 million and gross margin widened to 82.4% from 66.8%.
Current stock price: 293.00 pence, down 7.9% in London early Tuesday
12-month change: down 1.4%
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.