# Silver Bullet Data Services raises £1.0 million through placing

- Link: https://www.directorstalkinterviews.com/silver-bullet-data-services-raises-1.0-million-through-placing/4121134619
- Published: 2023-11-29T07:25:26+00:00
- Author: Amilia Stone

**Silver Bullet Data Services Group plc** (LON:SBDS), a provider of digital transformation
services and products, has announced that the Company has raised gross proceeds 
of £1.0 million through a placing of 1,428,571 new ordinary shares of 1 pence each
in the Company at a price of 70 pence per share. The Placing Shares equate to approximately
8.95% of the Company’s currently issued share capital and the Placing Price represents
a 27.2% premium to the 6-month VWAP and a 18.4% discount to the 3-month VWAP.

The net proceeds of the Placing will be principally used to provide the working 
capital required to facilitate the significant recent growth in new contract wins
and further accelerate the expansion of the Company’s new 4D AI Powered Insights
Platform. As announced at its recent interim results, Silver Bullet Data Services
has experienced strong revenue growth this year, with revenue having increased by
79% and overall operating costs reduced by 8% in H1 2023 versus H1 2022, as it moves
towards a position of positive EBITDA in early FY24. The Company is witnessing significant
demand for the AI-driven insight capabilities the 4D AI Platform can provide, with
clients increasingly seeking innovative ways to utilise AI in conjunction with privacy-
safe data assets to drive marketing performance and ROI.

**Appointment of Joint Broker**

CMC Markets UK Plc acted as the Company’s sole placing agent in respect of the Placing
and has been appointed as joint broker to the Company.  Brokers and investors wishing
to gain access to future CMC Markets transactions, should register their interest
at: https://www.cmcmarkets.com/en-gb/capx.

**Admission and Total Voting Rights**

The Placing has been conducted utilising the Company’s existing share authorities.
The Placing Shares will rank _pari passu_ in all respects with the Company’s existing
Ordinary Shares.  The Placing Agreement includes customary terms and conditions.
The Placing is conditional, _inter alia_, on there being no breach of the obligations
under the Placing Agreement entered into between CMC Markets and the Company prior
to admission of the Placing Shares to trading on AIM becoming effective.  Application
will be made for Admission of the Placing Shares, and it is expected that Admission
will become effective and that dealings in the Placing Shares on AIM will commence
on or around 4 December 2023.

On Admission, Silver Bullet Data Services’ issued share capital will consist of 
17,390,768 Ordinary Shares, each with one voting right.  Therefore, the Company’s
total number of Ordinary Shares and voting rights will be 17,390,768 and, as the
Company does not hold any shares in Treasury,  this figure may be used by shareholders
as the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the share
capital of the Company following Admission under the FCA’s Disclosure Guidance and
Transparency Rules.

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