Another PrimaryBid Weekend Offer oversubscribed within hours of launch
PrimaryBid, the leading online funding platform that enables investors to gain access to equity capital raises of listed companies, is pleased to announce the successful completion of an Offer for Versarien plc, the advanced materials group (AIM: VRS).
The Offer was oversubscribed by more than double the original target of 1.2m after exceptionally strong demand from private and institutional investors. The Company chose to increase the size of the fundraise resulting in gross proceeds of £2.9 million. The Offer was on a “first come, first served” basis, and was closed early at approximately 5:55 p.m. on 03 November, 2017.
Dave Mutton, COO of PrimaryBid, said:
“We are delighted to have facilitated another Fundraise for Versarien through PrimaryBid. This Offer closed faster than any of our previous Offer and is the third one in a row that has closed within hours, as a result of fantastic demand from investors.
If an investor hasn’t yet signed up on our platform, or downloaded our smartphone App, they run the risk of missing out on the next opportunity. It is free to join and there is no obligation to invest in any Offer.”
Neil Ricketts, Chief Executive Officer of Versarien, commented:
“We are delighted with the support we have received for the Fundraising from both institutional and private shareholders. The Offer through PrimaryBid has enabled private shareholders to participate on the same terms as the institutions.”
For full details of the successful offer, please refer to the Company RNS announcement