Gaming industry technology business Quixant has completed a £25m placing to satisfy market demand and broaden the institutional shareholder base of the Company.
The Cambridge company, quoted on the UK’s aim market, is a leading provider of specialised computing platforms for casino gaming machine applications.
finnCap, the company's broker, conducted the oversubscribed placing of 17,857,143 existing ordinary shares with new and existing institutional investors.
Nick Jarmany, CEO of Quixant, said: “Since our IPO in May last year it became increasingly clear to us that greater liquidity was necessary for the long term benefit of the company.
“By successfully completing this placing we have satisfied significant institutional demand and broadened our shareholder base. I am very pleased with the calibre and support of existing and new shareholders and look forward to continuing to implement our growth strategy.”
As we reported last month, Quixant is scaling up fast in the US and other global markets from its Cambridge HQ as it pours record levels of cash into new product development.