By Devika Patel
Knoxville, Tenn., June 10 - Phorm, Inc. said it has raised £15 million in a private placement of shares.
The company sold 3,333,333 common shares at 450p apiece.
Mirabaud Securities LLP and Evolution Securities Ltd. were the agents.
Proceeds will be used to continue the implementation of the company's services in the United Kingdom and Korean markets, and for general working capital purposes.
London's Phorm is a digital technology company specializing in behavioral and contextual online advertising.
| Issuer: | Phorm, Inc.
|
| Issue: | Common shares
|
| Amount: | £15 million
|
| Shares: | 3,333,333
|
| Price: | 450p
|
| Warrants: | No
|
| Agents: | Mirabaud Securities LLP and Evolution Securities Ltd.
|
| Settlement date: | June 10
|
| Stock symbol: | London: PHRM
|
| Stock price: | 573p at close June 10
|
| Market capitalization: | £74 million
|
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