By Anthony O. Goriainoff
VR Education Holdings PLC said Friday that it conditionally raised about £ 7.7 million ($ 10.7 million) through a discounted stock placement.
The virtual reality software company, which is listed in London and Dublin, said it issued 48.4 million new common shares at 16 pence per share, a 17% discount on Thursday’s closing price of 19.25 pence per share.
The company said shareholder Octopus Investments Ltd. has agreed to subscribe for 18.8 million shares as part of the placement and that after admission the total number of shares of the company will be 290.1 million shares.
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