LONDON - Aurrigo International plc (AIM: AURR), a prominent international provider of transport technology solutions, has successfully raised approximately £5.3 million through a combination of a Placing and a WRAP Retail Offer. The company announced on Monday that it had secured roughly £68,000 from the WRAP Retail Offer, contributing to the total funds raised.
The WRAP Retail Offer, which followed the Placing announced on December 11, 2024, will result in the issuance of 154,584 new Ordinary Shares at the Issue Price. This issuance is contingent upon shareholder approval at a General Meeting scheduled for January 6, 2025.
The new Ordinary Shares that will be issued as part of the Retail Offer are expected to be admitted to trading on AIM around January 8, 2025. These shares will rank equally with both the new Ordinary Shares issued pursuant to the Placing and the existing Ordinary Shares of the company.
Aurrigo's announcement emphasized that the WRAP Retail Offer Shares have not been registered under the US Securities Act of 1933 and will not be offered or sold in the United States, thus restricting the offer to certain jurisdictions. The offer was made through Winterflood Securities Ltd's WRAP technology platform, which was only open to UK investors meeting specific criteria.
The company and its financial advisors have not made any forward-looking statements about the potential impact of the funds raised on Aurrigo's performance. The announcement serves as a reminder that past performance of shares is not indicative of future results and that the value of investments can fluctuate.
This fundraising initiative is part of Aurrigo's ongoing efforts to expand its transport technology solutions globally. The additional capital is expected to support the company's strategic plans, although specific details regarding the use of proceeds were not disclosed in the press release statement.
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