Capital raises and debt restructuring dominated the tech and communications small-cap space, with Cirata tapping investors for up to £6.3m and Defence Holdings completing an oversubscribed £4m placing, while Zegona Communications cut its annual interest bill by €60m through a major refinancing of its senior debt stack.
Cirata raises up to £6.3m through placing and retail offer
Cirata (AIM:CRTA), the data analytics software company, launched a fundraise of up to £6.3m through a combination of an institutional placing, a subscription, and a separate retail component set to close on 29 June. The announcement weighed on the shares, which fell 7.6% to 16.2p.
Defence Holdings completes oversubscribed £4m placing at 1p
Defence Holdings, the UK software-led defence technology group, priced 400m new shares at 1p each to raise £4m gross, with the raise significantly oversubscribed and scaled back. The proceeds are earmarked to accelerate the company's defence technology strategy, and the level of demand underscored investor appetite for UK-listed defence exposure.
Zegona cuts annual interest bill by €60m with €3.7bn refinancing
Zegona Communications (AIM:ZEG) refinanced its entire senior debt stack in a €3.7bn transaction, reducing its annualised interest cost from €230m to €170m, a saving of €60m per year. The restructuring represents a material improvement to the group's cost base, and the shares edged 1.1% higher to 1,714p on the news.
