AIT strengthens balance sheet with £2.74 million placing

UK CRM vendor AIT has raised approximately £2.74 million before expenses through an institutional share placement at a price of 60 pence per share.

  0 Be the first to comment

AIT strengthens balance sheet with £2.74 million placing

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

One million pounds of the proceeds will be used to repay an oustanding IMA Loan Note, under a negotiated settlement between the firms that effectively clears a balance sheet liability of $3.5 million.

The remaining cash will be used to further strengthen AIT's balance sheet, says Nick Randall, chief executive officer of AIT.

Sponsored [On-Demand Webinar] PaaS, Cloud and Instant Payments in the Spotlight: Overcoming Outsourcing Challenges

Related Company

Channels

Keywords

Comments: (0)

[Webinar] The Next Fintech Frontier: A path to enhanced cross-border solutions amidst economic uncerFinextra Promoted[On-Demand Webinar] The Next Fintech Frontier: A path to enhanced cross-border solutions amidst economic uncertainty