27th Jan 2022 17:08
Cornerstone FS PLC - London-based payments provider - Confirms share placing and director subscription raises a total of GBP870,000, in line with target. Cornerstone issues 3.3 million new shares at 26.5 pence per share, with the new shares equalling 16% of the company's total prior to the issue. Fundraise is to help pay for acquisition of Capital Currencies Ltd for up to GBP3 million in cash, shares and convertible loan notes, including GBP586,000 in cash on completion. Tunbridge Wells, England-based Capital Currencies is a foreign exchange broker focused on UK small- and medium enterprises.
Current stock price: 26.99p, closed down 21% on Thursday
12-month change: down 56% from 61p IPO price in April 2021
By Tom Waite; [email protected]
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