16th Jul 2021 18:19
Round Hill Music Royalty Fund Ltd - private equity firm exclusively dedicated to investments in revenue generating music copyright assets - Says it has raised proceeds of USD86.5 million as part of the placing of 86.5 million C shares at an issue price of USD1.00 per C share. Says this "significantly exceeds" the target minimum capital raise of USD50 million.
Company intends to use the net proceeds, together with the remaining undrawn balance of its existing revolving credit facility, to assist in acquiring its near-term pipeline of copyrights in line with RHM's investment policy, where due diligence is "well advanced".
Current stock price: USD1.07
Year-to-date change: up 3.8%
By Arvind Bhunjun; [email protected]
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