Maintel Holdings (AIM:MAI), an AIM-listed communications technology company, has cleared all conditions to its £5.5 million fundraising, with admission of the new shares now the sole remaining step.
The refinancing, which formed a condition of the raise announced on 13 May, completed on 22 June, allowing the fundraising to proceed to its final stage.
Net proceeds will be directed toward strengthening the balance sheet, funding working capital for newly signed projects, improving tendering capability and procurement terms, and financing the full roll-out of the company's Transformation programme.
The fundraising was conditionally announced on 29 May, with the original terms set out in the 13 May announcement.
