Draper Esprit is pleased to announce that we have successfully raised £110m.
“It is encouraging that in these difficult times the capital markets recognise the key role that technology can play as global economies recover from the pandemic. Our raise this week is a vote of confidence in the great companies that we back, the investment model that we have built, and the future itself. We can now accelerate our plans to help the best entrepreneurs in Europe invent that future.” CEO, Martin Davis
Read the RNS below.
Draper Esprit plc
(“Draper Esprit” or the “Company”)
RESULTS OF THE PLACING
Draper Esprit (AIM: GROW, Euronext Growth: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses across Europe, is pleased to announce that, further to the announcement made yesterday, it has secured funding commitments to raise gross proceeds of £110 million at a placing price of 555 pence per share (the “Placing Price”) by way of the conditional placing of 19,819,820 new ordinary shares (the “Placing Shares”). The Placing was oversubscribed.
The Placing Price represents a premium of approximately 0.5 per cent. to the closing mid-market price of 552 pence per ordinary share on 1 October 2020 and is equal to the reported NAV as at 31 March 2020.
The allotment of the Placing Shares is conditional, inter alia, upon the Company obtaining approval of the Shareholders at a general meeting of the Company to be convened for 10.00 a.m. on 20 October 2020 to grant the Directors the authority to allot the Placing Shares and to disapply statutory pre-emption rights which would otherwise apply to such allotment.