Proceeds slated to help strengthen the company's presence in the U.S.
By Devika Patel
Knoxville, Tenn., May 21 - Bango plc said it will conduct a £3.25 million private placement of shares.
Bango will sell 2,355,000 ordinary shares at 138p each. The per-share price represents a 2.47% discount to the May 18 closing share price of 141.5p.
Proceeds will be used to develop a pipeline of strategic relationships, strengthen Bango's presence in the United States and enhance the management team through the recruitment of a chief operating officer.
Bango is a Cambridge, England, provider of mobile payment and analytics technology.
| Issuer: | Bango plc
|
| Issue: | Ordinary shares
|
| Amount: | £3,249,900
|
| Shares: | 2,355,000
|
| Price: | 138p
|
| Warrants: | No
|
| Pricing date: | May 21
|
| Stock symbol: | London: BGO
|
| Stock price: | 141.5p at close May 18
|
| Market capitalization: | £53.63 million
|
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