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Videndum PLC on Tuesday afternoon announced that it has conditionally raised gross proceeds of £85 million, after announcing the capital raising as part of its refinancing plan. The Richmond, London-based broadcasting hardware and software provider’s fundraising consisted of a firm placing of 30.2 million new ordinary shares, and a placing and open offer of another 1.3 million, at an offer price of 270 pence each. Videndum shares plummeted 60% to 3.98p early on Tuesday afternoon in London. Videndum said the open offer provides qualifying shareholders with the opportunity to subscribe for five new ordinary shares for every 400 of their existing shares. Earlier on Tuesday, Videndum announced the final terms of its ‘comprehensive’ refinancing plan, which included the placings and open offer. ‘Following completion of the refinancing, the company will have significantly deleveraged its capital structure and materially improved its key credit metrics and believes it will be well positioned to deliver on its business potential,’ Videndum stated. Videndum highlighted that the refinancing includes the underwritten gross £85 million fundraise, saying the net proceeds would total around £78.9 million, and that the 270 pence per share offer price was equivalent to a pre-consolidation issue price of 1.35p. It said proceeds from the fundraise, which was upsized from £70 million ‘following significant demand from institutional investors,’ would go towards its goal of slashing net debt by £111.7 million to £31.2 million. Videndum also said £23 million of existing revolving credit facility debt will be equitised by Polus Capital, with lenders writing off and releasing £15.8 million of existing RCF debt. Additionally, around £60 million in ongoing debt facilities are planned, with Polus Capital as the main lender. Videndum said the net equity proceeds will go towards paying down £50 million of the existing RCF, as well as £6 million in fees. ‘The new debt facilities and remaining net proceeds will increase the group’s ongoing liquidity and headroom,’ the company said. Alongside its announcement of the refinancing plan, Videndum said it anticipates good revenue growth in 2026, supported by the introduction of new products. It added that its expectations for the year remain unchanged. Videndum added that in the medium term, it expects revenue in excess of £350 million and is targeting a mid-teen earnings before interest, tax, depreciation and amortisation margin. ‘The board believes the refinancing is in the best interests of shareholders taken as a whole and other stakeholders,’ commented Chair Stephen Harris. ‘Our markets have been tough but we believe the prospects are there. We’ve focused the group’s operations, enacted significant self-help actions and have clear strategic levers to improve performance. ‘Videndum is embedded at the heart of content creation, with mission critical products that attach to and support camera systems across professional workflows.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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