Beeks Financial Cloud to Raise £15 Million Through Share Placement

Beeks Financial Cloud Group plc, a cloud computing and connectivity provider for financial markets, has announced its intention to conduct a fundraising to raise gross proceeds of approximately £15 million through a placing to new and existing institutional investors of new ordinary shares of £0.00125 each in the capital of the Company.

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In conjunction with the new share placing, a retail offer of new ordinary shares at the issue price will be made by the company via PrimaryBid to provide retail investors with an opportunity to participate in the equity fundraise. A separate announcement will be made shortly after this announcement regarding the PrimaryBid offer and its terms. The placing is not conditional upon the PrimaryBid offer.

The placing will be conducted through an accelerated bookbuild which will be launched immediately following this announcement. The price at which the placing shares are to be placed and the number of new ordinary shares and sale shares will be determined at the close of the Bookbuild. A further announcement confirming the closing of the Bookbuild, the Issue Price and the number of placing shares to be issued or sold pursuant to the placing is expected to be made in due course.