Inspired PLC (AIM:INSE) shares got a lift today after successfully closing a nine-figure equity round with existing investors.
Raising cash at a premium – even a small one – isn’t always possible for a small cap in this day and age, particularly when it comes a couple of weeks after warning that full-year earnings will come in lower than expected.
But that’s what commercial energy and sustainability advisory group Inspired did this Tuesday through a £21 million oversubscribed placing and warrant issue.
Two cornerstone investors – GHAM and Regent Gas – bought the lion’s share of the new stock, while Inspired’s own directors threw their weight behind the placing by snapping up more than £400,000
To be fair on Inspired’s lowered full-year earnings forecast, this was the result of contract delays that have pushed a portion of expected earnings into the new year.
Ergo, Inspired has expressed increased confidence in achieving its 2025 earnings targets all the while reducing leverage in the new year.
Though Inspired’s shares are down pretty sharply year to date, the market confidence has improved in the past month.
The stock is now 12% to 41.58p on a month-on-month basis following today’s 4% bump.