Augmentum Fintech plc: Oversubscribed Fundraise of £55 million

Singer Capital Markets are delighted to have acted as Joint Sponsor and Joint Bookrunner to Augmentum Fintech on its raise of £55 million through the issue of 40,590,406 ordinary shares of £0.01 each at an issue price of 135.5p per share by way of the Initial Placing, Open Offer, Offer for Subscription and Intermediaries Offer.

The Initial Issue was heavily oversubscribed with demand significantly exceeding both the target issue size and the maximum issue size. All valid applications received in respect of Qualifying Shareholders’ Open Offer Entitlements under the Open Offer will be met in full, and applications under the Initial Placing, Excess Application Facility, Offer for Subscription and Intermediaries Offer have been scaled back.

The Initial Issue of 40,590,406 Ordinary Shares will be split as follows:

18,648,695 Ordinary Shares under the Initial Placing;
17,623,024 Ordinary Shares under the Open Offer;
1,452,530 Ordinary Shares under the Offer for Subscription; and
2,866,157 Ordinary Shares under the Intermediaries Offer.

Tim Levene, CEO of Augmentum Fintech Management Limited, said:

“The success of this fundraise reflects increasing awareness amongst investors of the growing opportunity presented by fintech, not just in the UK but across Europe. This is especially the case given the step change seen in digital adoption as a result of the disruption caused by Covid which has benefited many of our portfolio companies, and which is a trend that looks set to continue. We look forward to supporting our current portfolio and capitalising on our qualified pipeline of new investment opportunities.”

Neil England, Chairman of Augmentum, commented:

“Augmentum remains unique as the UK’s only listed specialist fintech investment trust. This is our third successful raise since our IPO in March 2018, and the Board and I are pleased that the demand for the Initial Issue has significantly exceed both our original target of £40 million and the maximum size of £55 million. I would like to thank our existing shareholders for their support and welcome the many new investors that have participated in this fundraise.”

About Augmentum Fintech plc

Augmentum invests in fast growing fintech businesses that are disrupting the financial services sector. Augmentum 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: £261.56 million*
Website: Click here

*As at 15/07/2021

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