By Susanna Moon
Chicago, June 15 - Myhome International plc said it has conditionally raised £3.57 million in a private placement of stock.
The company issued 4.2 million shares at 85p each in an oversubscribed placement.
The price is a discount of 18.3% to the mid-market closing price of 104p on June 15.
The shares are expected to begin trading on the AIM on June 21.
Proceeds will be used for acquisitions, to expand its shareholder base and for working capital.
The placement represents 8.3% of issued shares, or 50,440,853 common shares.
"The positive impact on the balance sheet and the increased working capital will enable the company to be more flexible when future opportunities arise. Myhome is now in a strong position to accelerate growth in all areas of the company," Russell O'Connell, executive chairman of Myhome, said in a written statement.
Myhome is a franchisor of residential services and is based in Kingston-upon-Thames, England.
Issuer Myhome International plc
| Issue: | Stock
|
| Amount: | £3.57 million
|
| Shares: | 4.2 million
|
| Price: | 85p
|
| Warrants: | No
|
| Pricing date: | June 15
|
| Stock symbol: | AIM: MYH
|
| Stock price: | 104p at close June 15
|
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