FundraisingONT's £80m gross raise provides important additional balance sheet headroom for a business which has struggled to meet expectations since IPO.
Investor ConfidenceThe new raise, priced at 120p, a modest 0.7% discount to close, is mostly covered by Novo Holdings (£50m, for c.4.4% stake post-raise), with the remaining £30m coming from institutional investors.
Stock PerformanceThe past few weeks have seen the shares rally c.45% from an all-time low of 86.5p.