3rd Feb 2014 11:32
LONDON (Alliance News) - PeerTV PLC Monday said it has raised GBP250,000 in a private placing and also issued warrants for another 25 million shares.
In a statement, the TV over the internet and printed circuit board technology provider said the 25 million placing shares will be issued in several tranches, and it has already received GBP121,000 for the first 12.1 million tranche. The rest will be done over the next month. The placing was done at 1 pence a share.
The 25 million warrant shares were issued at 1.5 pence each. They have an exercise period of five years.
PeerTV didn't say what it is using the funds for.
Its shares were down 13.5% at 1.19 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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