Raspberry Pi Holdings (LSE:RPI) said the Raspberry Pi Foundation sold 10.91m existing shares at 550p in a placing to institutional and strategic investors and a separate retail offer, and the company will not receive any proceeds from the transaction.
The sale shares represent approximately 5.6% of the company's issued share capital and were offered to strategic and institutional investors via the placing and to retail investors at the same placing price.
Arm Technology Investments 2, identified as a strategic shareholder, subscribed for approximately £50m of the placing.
Following completion the 'selling shareholder' will retain 79.42m shares, representing around 41.0% of the company's outstanding shares, and the remaining shares held by the Selling Shareholder are subject to a 365-day lock-up, subject to customary exceptions.
Settlement of the placing and the retail offer is expected on a T+2 basis on 27 April, with Jefferies International and Peel Hunt acting as joint global coordinators and joint bookrunners.
