Coronavirus impact: 15 May - more fund raises and a virtual reality music treat
Institutions are clearly not short of cash and seem happy to support proven winners, despite the challenging environment.
Boohoo: raises more firepowerBoohoo Group (LON:BOO) has raised £197.7m in new equity to ensure it is well prepared to take advantage of the acquisition opportunities which are bound to appear over the coming months. Following the fundraise the group should have c.£500m in cash, giving it significant firepower to make some rapid acquisitions with several prospects already under consideration. New money raised represents 5% of the existing share capital with the shares priced at 340p, a discount of 3.2% to last night’s closing price. The dilution sees earnings forecasts from the house broker falling to 5.63p for the year ending Feb…