Cloud-based conferencing services provider LoopUp (LON: LOOP) is raising cash at a 32% discount to the mid-price of 37p. The offer price of 25p is also a 73.5% discount to the flotation price of 100p back in 2016.
A placing will raise £7m and a PrimaryBid offer will raise additional funds. The acquisition of SaaS-based hybrid training technology business SyncRTC Inc will not take much of the cash because the enterprise cost is £3.26m and £2m of that is in shares at around 37p each.
The rest of the cash will go towards investment in cloud telephony and the reduction of debt
LoopUp has...
