Augmentum Fintech plc announces an oversubscribed Placing and Retail Offer raising £28 million

The Board of Augmentum Fintech is pleased to announce the successful completion of the Placing and concurrent Retail Offer raising £28 million.

Demand for the Fundraise from both existing and new investors exceeded the maximum issue size and accordingly applications have been scaled back. In total, the maximum of 23,371,380 New Ordinary Shares will be issued pursuant to the Fundraise at a price of 120 pence per New Ordinary Share, of which 22,560,383 New Ordinary Shares will be issued under the Placing and 810,997 New Ordinary Shares will be issued under the Retail Offer.

Proceeds of the Fundraise are to be used to fund investments selected from the Company’s near-term qualified pipeline, which currently contains approximately £120 million of investment opportunities across all target sectors and geographies, and continues to grow.

Neil England, Non Executive Chairman of Augmentum Fintech plc, commented:

“Augmentum is unique as a fintech specialist with a closed end structure offering patient capital to companies as they scale-up. It is pleasing to see that demand for our shares from the Placing and Retail offer has exceeded the maximum issue size. I would like to thank our existing shareholders for their support and welcome the many new investors that have participated in this fundraise.”

Tim Levene, CEO of the Portfolio Manager, commented:

“The success of this fundraise reflects the growing shift in the move to a digital economy over recent months and highlights that fintech has been a beneficiary of the accelerated digital adoption in financial services. The on-going disruption caused by Covid should maintain the momentum behind this trend and many of Augmentum’s portfolio companies should continue to benefit from this growth. We look forward to supporting our current portfolio and capitalising on our qualified pipeline of new investment opportunities.”

N+1 Singer is acting as Joint Broker and Joint Bookrunner to Augmentum.

About Augmentum Fintech plc

Augmentum Fintech invests in fast growing fintech businesses that are disrupting the financial services sector. Augmentum Fintech is the UK’s only publicly listed investment company focusing on the fintech sector in the UK and wider Europe, having launched on the Main Market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines and giving public markets investors access to a largely privately held investment sector during its main period of growth.

Ticker: AUGM
Market Cap: £140.81 million*
Website: Click here

*As at 30/10/2020

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