Kelso Group Holdings (LSE:KLSO), the acquisition vehicle, has closed its placing and subscription, raising gross proceeds of £3 million.
The company issued 90.91 million new shares at 3.3p each, equivalent to 19.8% of its existing issued share capital.
Kelso is also extending its retail offer, giving shareholders until 4:30pm on 18 September to participate, with admission of new shares now expected around 23 September.
Up to 30.3 million additional shares are available under the retail offer at the same 3.3p issue price.
Certain Kelso directors and persons discharging managerial responsibilities have already subscribed for shares in the placing, with details of their participation to follow once the retail offer closes.
Admission of the retail offer shares is expected on or around 23 September.
