By Michael Susin
Mobile Streams PLC said Thursday that it is seeking to raise 1.2 million pounds ($1.4 million) via a share placing to fund further non-fungible token contracts, including several expected to be signed this month.
The mobile-content and data-intelligence company said a total of 666.7 million shares will be placed at a price of 0.18 pence a share. This represents a discount of around 33% of the groups Wednesday closing mid-market price.
Each share will be issued with one warrant. The warrant will allow investors to subscribe for a share, exercisable at 0.3 pence for a period of 18 months, the company added.
The placing shares represent around 13.4% of its enlarged share capital, it added.
“The funds raised in this placing will enable us to take advantage of significant similar revenue generating opportunities and help us grow the business at a faster rate,” Chief Executive Mark Epstein said.
Shares at 0733 GMT were down 1.0 pence, or 12%, at 7.25 pence.
Write to Michael Susin at michael.susin@wsj.com
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