Fladgate LLP has acted for AIM listed Audioboom Group PLC, the digital social media audio platform, on an £8 million placing with institutional and other investors.
The £8 million was raised through the issue of 64 million new ordinary shares at 12.5p per share. The funds will support a number of initiatives including: the global roll out of a new app; creation of a Hispanic app, website and content; expansion of curation teams; and the roll out of an aggregated audio advertising network.
Fladgate corporate partner David Robinson advised Audioboom with assistance from corporate solicitors Jamie Hamilton and Michelle Smith.
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