StockMarketWire.com - Video editing platform provider Blackbird said it had raised approximate £8.0 million before expenses through a discounted equity offering.

The company sold 28,571,429 shares at a price of 28 pence per share, representing a discount of 8.2% to the closing mid-market price on AIM of 30.5 pence per share on 7 December 2021.

The estimated net proceeds of the placing, which would be £7.6 million, will be used to develop the company including its technology offering in the new markets as well as grow its software engineering, product and business development teams.




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