IN BRIEF: Crossword Cybersecurity shares down on fundraise

Crossword Cybersecurity PLC - Richmond, England-based cybersecurity solutions company - Completes ...

Alliance News 23 September, 2022 | 9:49AM
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Crossword Cybersecurity PLC - Richmond, England-based cybersecurity solutions company - Completes an "oversubscribed" GBP3.6 million fundraising by investment services provider Hybridan LLP through a placing of 16.8 million new shares, at a price of 21.7 pence per share. The placing price represents a 10% discount to the closing bid-price on Thursday, Crossword says.

Chief Executive Officer Tom Ilube says: "In 2022, we remain confident in growing our revenues by about 75% to GBP4.0 million. Looking ahead and with this latest round of funding and the visibility on our commercial discussions, the board is confident of delivering 50% year-on-year revenue growth in [financial] 2023 taking revenues to GBP6.0 million."

Current stock: 24.30 pence, down 4.7%

12-month change: down 27%

By Xindi Wei; xindiwei@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Crossword Cybersecurity PLC 1.75 GBX -5.41 -

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