5th Jul 2016 08:09
LONDON (Alliance News) - Crowdfunding platform SyndicateRoom on Tuesday said it is offering its members the chance to take part in a share offer for AIM-quoted digital wellness technology developer Fitbug Holdings PLC.
Last week, Fitbug announced plans to raise GBP2.6 million through the placing of 340.8 million shares at 0.25 pence each and an open offer of 703.6 million shares at the same price.
GBP852,000 was raised through institutional investors and the remaining GBP1.8 million will be raised via SyndicateRoom and other investors.
"Having assessed a range of finance options to support our short-term and long-term working capital needs, we were particularly excited by the prospect of offering new shares to investors via SyndicateRoom," Fitbug Chief Executive Anna Gudmundson said in a statement on Tuesday.
"With its recent membership of the London Stock Exchange, SyndicateRoom is the only platform that could effectively distribute our shares direct to crowdfund investors, enabling us to expand the number of owner-advocates for our business as we focus on becoming a leader within this space by delivering an innovative app-based technology to enhance employee wellness," she added.
Shares in Fitbug were trading down 9.1% at 0.25 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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