Aston Martin Lagonda Global Holdings PLC (LSE:AML) raised £216 million in a share placing and retail offer via PrimaryBid to help cut debt and support growth.
The sports car manufacturer said the proceeds allow it to deleverage its balance sheet and by reducing debt interest payments, will provide "an accelerated pathway towards achieving its net leverage ratio targets and becoming free cash flow positive from 2024".
PrimaryBid noted that the £4 million retail investor offer was the second time the FTE 250-listed company has used PrimaryBid to include smaller UK private investors in its fundraising.
Aston Martin chief financial officer Doug Lafferty said: “We were pleased to be working with PrimaryBid again to provide a retail offer and to see strong participation from new and existing retail shareholders.”
The funding platform has also been used this year by FTSE 100-listed Entain PLC (LSE:ENT), London Stock Exchange Group PLC (LSE:LSEG) and Unite Group PLC (LSE:UTG), as well as mid-caps Asos, Diploma and BH Macro (LSE:BHMG).