Silver Bullet Data Services Group PLC (LON:SBDS), a provider of digital transformation services and products, has announced that it has conditionally raised £4,500,000 (before expenses) via a placing and subscription for, in aggregate, 2,394,000 new ordinary shares of 1p in the Company at a price of 100p per Ordinary Share to raise £2,394,000 and the issue of £2,106,000 of convertible loan notes.
In addition, the Company has also granted an option to Oberon Capital, the Company’s broker, to facilitate the satisfaction of up to £500,000 of potential additional demand for new Ordinary Shares from qualified Silverbullet shareholders and other qualifying investors on the same terms as the Placing for a period of up to ten days, as further detailed below.
The Fundraise, including the Broker Option, is subject to shareholder approval at a forthcoming general meeting of the Company, as further detailed below.
Ian James, Chief Executive Officer of Silverbullet, commented:
“I am delighted to be able to announce today a £4.5m fundraising to provide the Company with additional funds to drive the growth in sales of Silverbullet’s 4D product, as well as to provide additional general working capital and strengthen the Company’s balance sheet.
“I would like to thank our shareholders for their continued support. We remain confident in the Company’s prospects and look forward to providing further updates on our operational progress in due course.
“It is envisaged that the Broker Option provides the option for existing shareholders who were not able to be contacted as part of the Fundraise, to take advantage of the opportunity to follow their investments in the Company on the same terms.”
