LONDON - Warpaint London PLC (AIM: W7L), a specialist supplier of color cosmetics, has announced a retail offer to raise up to £1 million by issuing new ordinary shares. The company, known for its W7 and Technic brands, is offering 196,078 shares at a price of 510 pence each, which is a 2.67% discount to the closing price of its shares on Monday.
This retail offer is part of a broader fundraising effort by Warpaint, which includes a separate placing aimed at raising an additional £14 million. The funds from this retail offer are earmarked for general working capital and to cover expenses associated with the proposed acquisition of Brand Architekts plc.
The offer opened today and is set to close on Friday, with results to be announced on Sunday. Trading of the new shares on the AIM market of the London Stock Exchange (LON:LSEG) is expected to commence on the following Monday, December 10, 2024.
Warpaint has expressed appreciation for the longstanding support from its retail shareholders and has made the offer available exclusively to them in the United Kingdom (TADAWUL:4280). Shore Capital Stockbrokers Limited is coordinating the retail offer, with eligible investors being able to participate through financial intermediaries listed on a specified website.
The company has clarified that the new ordinary shares will rank equally with existing shares, including the right to receive future dividends and distributions. The retail offer is contingent upon the successful completion of the larger placing and the admission of the new shares to trading on AIM.
This announcement is based on a press release statement and contains information that is considered to be inside information for the purposes of market abuse regulation in the United Kingdom.
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