Oversubscribed Placing raising £21 million

Singer Capital Markets is delighted to have acted as Nominated Adviser & Sole Bookrunner to Checkit plc on its oversubscribed Placing raising £21 million.

The Company raised the gross proceeds through the Placing of 45,561,020 new Ordinary Shares at a Placing Price of 46 pence per share by way of an Accelerated Bookbuild process.

The Placing Shares will represent approximately 42.2 per cent. of the Enlarged Share Capital of the Company following completion of the Placing.

The net proceeds will be used to take advantage of the significant opportunities presented by the growing deskless worker industry by accelerating its go-to-market strategy and strengthening its product offering.

Kit Kyte, Chief Executive Officer of Checkit, commented:

“I am delighted by the outcome of this placing. The Checkit vision and strategy has been well received by the market and the proceeds of this placing will now allow us to accelerate our growth ambitions and play a leading role in the evolution of the deskless worker industry.”

About Checkit plc

Checkit is the intelligent operations platform for deskless workforces, enabling operational agility and intelligent decision-making in large multinational and complex national organisations. The solution offers optional plugins for sensor networks and smart building management.

Ticker: CKT

Market Cap: £28.73 million*

Website: Click here

*As at 17/12/2021