14th May 2015 12:17
LONDON (Alliance News) - TMT Investments PLC Thursday said the valuation of its investment in portfolio company Pipedrive Inc has increased substantially after the company completed a USD9 million equity financing round.
TMT's convertible notes in Pipedrive, a sales management software company, have been converted into equity, giving TMT a 5.71% stake in the company. The fundraising means the value of its stake in Pipedrive has been increased by USD1.82 million, more than three times the value prior to the transaction.
Shares in TMT were untraded Thursday, having last traded at 1.72 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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