By Devika Patel
Knoxville, Tenn., Aug. 28 - Abbeycrest plc said it took in £2.02 million from a private placement of shares.
The company sold 40.3 million ordinary shares at 5p each.
Proceeds will be used to reduce debt, market new products and invest in higher margin jewelry collections.
Based in Leeds, England, Abbeycrest designs, manufactures and distributes gold and silver jewelry.
| Issuer: | Abbeycrest plc
|
| Issue: | Ordinary shares
|
| Amount: | £2,015,000
|
| Shares: | 40.3 million
|
| Price: | 5p
|
| Warrants: | No
|
| Settlement date: | Aug. 28
|
| Stock symbol: | London: ACR
|
| Stock price: | 8.8p at close Aug. 28
|
| Market capitalization: | £2.7 million
|
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