Mirriad Announces £26.2m Fundraising and Proposed Admission to AIM

Mirriad Advertising, plc, a London, UK-based video technology company and developer of native in-video advertising, priced its Initial Public Offering and has applied for the Admission of its entire issued and to be issued share capital to AIM, a market operated by London Stock Exchange plc.

Mirriad has announced the raising of £26.2m gross proceeds through a conditional placing of 42,258,065 new ordinary shares of £0.00001 pence each at 62 pence per Share to institutional and other investors.
On admission to AIM, Mirriad will have a total of 101,896,911 Shares in issue, equating to a market capitalization of approximately £63.2m at the placing price.

The admission is expected to occur on 19th December at 8:00 am, under the ticker symbol “MIRI”.

Numis is acting as Nominated Adviser, Broker and Joint Bookrunner in relation to the placing and admission to trading on AIM.
Baden Hill is acting as Joint Bookrunner.

Led by Mark Popkiewicz, CEO, Mirriad is a global video technology company engaged in the development of native in-video advertising. Through Marketplace, its IP-protected proprietary technology, Mirriad can insert branded products and signage into existing video content as ad units. The platform enables brands and advertisers to plan and run multi-title campaigns across all three screens – on TV, online and on mobile.
Mirriad is a portfolio company of IP Group plc (LSE: IPO), a developer of intellectual property-based businesses. Following completion of the placing and admission, IP Group will be beneficially interested in 27,726,904 Shares in Mirriad, representing 27.2% of the company’s enlarged issued share capital, valued at £17.2 million at the placing price.
IP Group has committed £3.7 million to the placing.



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