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Crossword Cybersecurity PLC - Richmond, England-based cybersecurity solutions company - Completes an ‘oversubscribed’ £3.6 million fundraising by investment services provider Hybridan LLP through a placing of 16.8 million new shares, at a price of 21.7 pence per share. The placing price represents a 10% discount to the closing bid-price on Thursday, Crossword says.
Chief Executive Officer Tom Ilube says: ‘In 2022, we remain confident in growing our revenues by about 75% to £4.0 million. Looking ahead and with this latest round of funding and the visibility on our commercial discussions, the board is confident of delivering 50% year-on-year revenue growth in [financial] 2023 taking revenues to £6.0 million.’
Current stock: 24.30 pence, down 4.7%
12-month change: down 27%
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