PrimaryBid delivers 415,000 pounds fund raising for Falanx Group Limited
OREANDA-NEWS. PrimaryBid, a leading online funding platform that enables investors to gain access to placings of AIM-listed companies, is pleased to announce another successful fund raising of ?415,000 through its proprietary funding platform.
Today's announcement forms part of a larger approximately ?1 million fund raising for Falanx, and is a further significant endorsement of the placing power of PrimaryBid's user base.
This fund raising marks the fifth successful fund equity raise through PrimaryBid for AIM listed companies, which now totals over ?1 million since the its platform launch in March 2016.
Demand on the platform continues to grow with active bids on over 50 AIM companies totaling over ?20 million of potential equity value.
Commenting on today's announcement, Dave Mutton, COO, PrimaryBid said:
"We are delighted to announce this fund raise today, demonstrating how PrimaryBid can work alongside companies to add incremental demand to an existing fund raising process. We have been in discussion with other companies and brokers regarding this type of opportunity, which provides access to an incremental pool of individual investor capital.
"We are confident that this type of collaborative fund raising will be an important part of PrimaryBid's ongoing growth strategy over the coming months."
John Blamire, CEO, Falanx added:
"Working with PrimaryBid has allowed us to raise additional funds as part of this transaction and we fully support this type of opportunity to broaden the circle of investor participation in a new share placing."
PrimaryBid is an online investment platform allowing investors to gain direct access to placings, fund raisings and IPOs of AIM-listed companies. The platform is open to all investors and is supported by the broker community as a way of accessing, on behalf of their AIM clients seeking capital, the large and active private investor market, as well as institutions.
Unlike typical equity crowdfunding opportunities, which focus on high risk unlisted companies, PrimaryBid allows private investors to bid for participation in future fund raising exercises for listed equities in a way that regulation and market structure has made difficult in the past. As private investors account for over 60% of secondary investments on AIM*, there is a clear need for the PrimaryBid platform.
PrimaryBid is funded by private and strategic investors and brokers including Shore Capital, finnCap and Arden Partners.
Listing of a company on the PrimaryBid platform is not an indication that any fundraise is likely or imminent and all bids by investors are speculative.
PrimaryBid Limited is an appointed representative of Darwin Strategic Ltd which is authorised and regulated by the FCA.
The platform formally launched on 3 March, 2016 after operating in a Beta format since March 2015 and has raised c?1.9m on behalf of AIM listed companies to date.
About Falanx Group Limited
Falanx Group Limited, is a global intelligence, security and cyber defence provider working with blue chip and government clients including IMF, BAE Systems, Boeing, Lockheed Martin, Qantas, Occidental and KLM.