Coronavirus impact: 25 Aug – big ambition from this small AIM company
The digital world continues to offer plenty of promise, as our latest update here reveals.
MelodyVR: acquires NapsterAIM quoted creator of virtual reality content MelodyVR Group (LON: MVR) is acquiring Rhapsody International, which trades as the pioneering digital music brand Napster. As the acquisition is classified as a reverse takeover MelodyVR shares have been suspended pending publication of an Admission Document which is anticipated to happen by the end of November 2020. MelodyVR is paying $26.3m for Rhapsody, of which $15m is in cash and the balance by the issue of 200 million MelodyVR shares. In support of the cash component MelodyVR is raising £11.7m ($15.m) at a price of 3.5 pence per share, an…