Fundraise of £4.1 million for Aurrigo International plc
Singer Capital Markets is delighted to have acted as Nominated Adviser, Broker and Retail Offer Coordinator to Aurrigo International plc on its Fundraise of £4.1 million through a Placing, Direct Subscription and Retail Offer via the BookBuild platform.
£3.84 million was raised via a Placing of an aggregate of 3,840,000 new ordinary shares of £0.002 each in the Company with certain existing and new institutional and other investors at a price of 100 pence per Placing Share. £176,255 was raised in a Retail Offer via the BookBuild Platform from existing retail shareholders with a total of 176,255 new ordinary shares of £0.002 each being issued at 100 pence per Retail Offer Share.
In addition, the Company raised £100,000 by way of a Direct Subscription for 100,000 new Ordinary Shares at the Issue Price.
The net proceeds received by the Company from the Fundraise will principally be used for:
- Customer rollout investments;
- Additional staff;
- Working capital; and
- IT systems.
About Aurrigo International plc
Aurrigo is a leading international provider of transport technology solutions. Headquartered in Coventry, UK, it designs, engineers, manufactures and supplies autonomous vehicles and OEM products to the automotive and transport industries, particularly focusing on aviation. It is highly regarded as a specialist in autonomous and semi-autonomous technology solutions for the aviation, ground handling and cargo industries.
Market Cap: £48.07 million*
Website: Click here
*Market cap as at 04/12/2023