Grafenia Raises GBP23.4 Million via Discounted Placing, Subscription, Open Offer

By Anthony O. Goriainoff

Grafenia said it raised around 23.4 million pounds ($29 million) via a discounted conditional placing, a subscription and a conditional open offer, and that this was below the original target of around GBP27.9 million.

The U.K. printing company said Friday it received valid acceptances from qualifying shareholders in respect of 5 million open offer shares.

On Aug. 29, the company said it would issue shares at 8.5 pence a share, representing a 17% discount to the closing price on Aug. 25 of 10.25 pence a share. It also said it would issue up to 57.2 million open offer shares at the issue price.

The company said it would use the funds for future acquisitions to repurchase some existing bond arrangements and pay deferred consideration on previous acquisitions.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

September 15, 2023 13:29 ET (17:29 GMT)

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