(Alliance News) - Dev Clever Holdings PLC on Friday raised GBP437,851 through a conditional placing, which will go towards provide the company with further working capital and unlock new opportunities, it said.
The software firm issued 43.9 million shares at a price of 1.0 pence each, a 9.1% discount to its closing price on Thursday at 1.10p.
Shares in Dev Clever - which is based in Tamworth, England - were up 7.2% at 1.18 pence on Friday in London. It has a market capitalisation of GBP4.6 million.
As well as working capital, proceeds from the placing will also go towards exploiting new opportunities in the careers education sector, including the localisation of Dev Clever's Launchpad and VICTAR platforms in order for them to be rolled out into North America.
Novum Securities Ltd acted as broker for the placing.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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