By Devika Patel
Knoxville, Tenn., July 23 - Drury Lane Capital plc announced it will raise £14.64 million in a private placement of shares.
The company will sell 86,088,235 ordinary shares at 17p per share.
Proceeds will be used towards the company's bid to acquire Adastra Software Ltd., which Drury Lane announced alongside the placement.
London-based Drury Lane seeks to invest in a United Kingdom, European or North American business. The company will focus on sectors, such as natural resources, energy and media services.
| Issuer: | Drury Lane Capital plc
|
| Issue: | Ordinary shares
|
| Amount: | £14,634,999.95
|
| Shares: | 86,088,235
|
| Price: | 17p
|
| Warrants: | No
|
| Pricing date: | July 23
|
| Stock symbol: | London: DRUR
|
| Stock price: | 16.5p at close July 22
|
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