viewKRM22 PLC

KRM22 could raise up to £11.8mln in debt and equity fundraisers

The technology group is eyeing acquisitions and has two potential deals lined up

man at dealing screens
KRM22 develops risk management software used by companies operating in the capital markets

KRM22 PLC (LON:KRM) said it plans to raise up to £1.8mln via a share placing and subscription for new stock as it revealed it is in early talks to tap a venture debt provider for up to £10mln to fund potential acquisitions.

If the debt deal is agreed, the company would draw down an initial £1-£2.5mln, investors were told.

“The balance of the facility will become available in tranches conditional on the company's rate of recurring revenues, which would include acquired recurring revenue,” KRM22 added.

The new equity, meanwhile, is being issued at 85p, a 3p discount to last night’s close.

The proceeds will be used to support the continued rollout of the company’s Risk Cockpit, a risk management tool for companies operating in the capital markets.

"The past months have validated the KRM22 business proposition and we are well placed to continue our development and growth supported by this fundraising," said chairman Keith Todd.

Acquisition plans

On its acquisition plans, which are subject to the company being able to raise the debt tranche, it said it had identified two deals, both in the US risk management arena.

Together they would bring in £1.5mln (US$2mln) of recurring revenues along with 29 additional customers.

The vendors would be given an upfront payment and an earn-out satisfied in cash and shares.

Quick facts: KRM22 PLC

Price: 51.45 GBX

Market: AIM
Market Cap: £9.83 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of KRM22 PLC named herein, including the promotion by the Company of KRM22 PLC in any Content on the Site, the Company receives from said issuer...



Full interview: KRM22 PLC reports growing pipeline of new opportunities

KRM22 PLC's (LON:KRM) Keith Todd speaks to Proactive London's Andrew Scott following the release of the firm's interim results to June 2019. The risk management software firm, which floated in April last year, says its pipeline of new opportunities has increased over the period, but some...

3 weeks, 6 days ago

2 min read