Bars operator Nightcap (LON: NGHT) is making it first acquisition since joining AIM. There has been sharp rise in the share price since the original placing at 10p a share and Nightcap is trying to raise a further £4m to help pay off borrowings of the Adventure Bars Group and finance its expansion.
Nightcap joined AIM in January and the share price has risen despite the company’s bars being closed for most of this year – and some are still closed. The share price has been over 37p, but it fell 4.5p to 29p after the announcement, having been as low as 27p.
Shares are being issued at 21p ...
