By Devika Patel
Knoxville, Tenn., Dec. 4 - Research Now plc said it will raise £7 million in a private placement of shares.
The company will sell 2,333,334 shares at 300p apiece. The deal will be conducted in two tranches.
Canaccord Adams Ltd. will be the agent.
Proceeds will be used to strengthen the company's balance sheet and to pay the first installment of the deferred consideration for the acquisition of Samplenet e-Research Solutions.
London-based Research Now provides online fieldwork and panel services to more than 100 clients.
| Issuer: | Research Now plc
|
| Issue: | Shares
|
| Amount: | £7 million
|
| Shares: | 2,333,334
|
| Price: | 300p
|
| Agent: | Canaccord Adams Ltd.
|
| Settlement date: | Dec. 4
|
| Stock symbol: | London: RNOW
|
| Stock price: | 320p at close Dec. 3
|
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