StockMarketWire.com - Cocktail bar group Nightcap launched a £4 million share issue to help fund the acquisition of Adventure Bar, which would see it operate nine more properties.

The price of new shares in the offering had yet to be determined, the company said.

The maximum acquisition cost for Adventure Bar was £2.5 million, including an initial 1.0 million and up to £1.5 million of deferred consideration, dependent on financial performance.

The bars being acquired included seven themed bars in London, a large outdoor bar, food and entertainment venue in Birmingham and a bar site opening in Birmingham on 17 May 2021 and a 50% interest in a central London roof-top bar.




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