Drinks-led hospitality group Nightcap is raising money via PrimaryBid ahead of a flotation on AIM. At the same time, London Cocktail Club is being reversed into the business in a deal for an initial £5.7m in cash and shares at the issue price. Further acquisitions are likely so that the group can roll out other drinks-led brands.
The offer price and amount to be raised have not been declared. Nightcap will use some of the money raised to pay the £2.2m cash element of the acquisition and should have money over to finance other acquisitions. The offer closes on 21 September.
The initial 2...
