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Monday 19 December, 2016

Teathers App

Teathers App raises £292,000 for Big Sofa Tech

RNS Number : 2575S
Teathers App
19 December 2016
 

19 December 2016

 

Teathers Financial plc

("Teathers" or the "Company")

 

Teathers App raises £292,000 for Big Sofa Technologies

 

The Teathers App, the unique mobile app designed to give private investors access to placements, is pleased to announce the successful raising of £292,000 on behalf of Big Sofa Technologies (AIM:BST). This is the first transaction to be put through the Teathers App, since its re-launch in early December. The £292,000 raised represents the full allocation offered.

 

Big Sofa Technologies

Big Sofa Technologies ("Big Sofa"), a specialist b2b technology company providing video analytics at an enterprise level, has today been admitted to the Alternative Investment Market (AIM), through an Initial Public Offering (IPO).

Big Sofa raised a total of c.£6.1million in new capital as part of this transaction. Of this amount, private investors invested £292,000 into Big Sofa through the Teathers App. Since this was an IPO, fully onboarded users of the Teathers App were able to participate in the Big Sofa deal between Thursday 08 December and Friday 16 December 2016.

 

Becoming an onboarded user of the Teathers App

The Teathers App is currently only available in the Apple App Store. Shard Capital is the broker supporting the re-launch of the Teathers App. By completing the onboarding process, users of the Teathers App set up an execution only brokerage account with Shard Capital. Shard Capital is regulated by the FCA.

Becoming an onboarded user of the Teathers App is simple. Only onboarded users can participate in deals offered through the Teathers App. To become an onboarded user of the Teathers App, download the App from the Apple App Store and complete the account application process.

A version of the Teathers App will be released to Google Play in early 2017.

 

Ben Turney, Chief Executive Office of Teathers, commented:

"We are delighted to announce the re-launch of the Teathers App with a first successful fundraise of £292,000 on behalf of Big Sofa Technologies. This represents a major milestone in the revival of Teathers Financial Plc, since the summer's positive shareholder activist campaign.

The Teathers App has great potential to help level the playing field on AIM in favour of ordinary private investors. The market has been waiting for a viable service like this. Too many fundraisings on AIM deny ordinary, long-term shareholders the opportunity to participate. The Teathers App will seek to redress this imbalance.

Having raised the full allocation assigned to us of £292,000 on behalf of Big Sofa Technologies, we have proven that our technology works, our service is scalable and the appetite exists among private investors for exactly these types of deals.

We look forward to providing further updates after future fundraises."

 

Teathers Financial Plc

Ben Turney

E: [email protected]

T: +46 (0) 7697 406 06

CEO | Teathers Financial PLC

83 Ducie Street, Manchester M1 2JQ

 

Teathers App

W: www.teathersapp.com

Twitter: @teathersapp

 

About the Teathers App

The Teathers App is a unique mobile app, designed to give all private investors access to placements & Initial Public Offerings (IPOs), predominantly on the London Stock Exchange's Alternative Investment Market (AIM). There are currently 993 companies listed on AIM. During the course of 2016 these companies have so far raised £3.27 billion in secondary fundraisings (placements) (DATA: AIM Statistics to end Nov. 2016). 

The Teathers App is an execution only platform. When an AIM-listed company raises money, "onboarded" users of the Teathers App have the opportunity to participate in the placement on the same terms as other insiders. Placements will typically be offered through the Teathers App the night before they are announced, out of market hours. An "onboarded" user of the Teathers App is one who has already opened a brokerage account with Shard Capital. Shard Capital is the broker supporting the re-launch of the Teathers App and provides the necessary environment, including compliance oversight and client identification. Shard Capital is regulated by the FCA. 

The Teathers App is currently available in the Apple App Store.  A version of the Teathers App will be released in Google Play in early 2017.

 

About Big Sofa Technologies

Big Sofa Technologies is a specialist b2b technology company providing video analytics at an enterprise level.  Its proprietary, cloud-based analytics platform enables users to view, manage, search and perform detailed analysis on the content of any video, from any device, across any spoken language.

Big Sofa's current office and head office is based in London. The main country of operation is the U.K.

Big Sofa was admitted to AIM on Monday 19 December 2016 through an IPO. On gaining admittance to AIM Big Sofa raised c.£6.1 million, comprising £5.0 million in a placing and c.£1.1 million in a subscription at 17 pence per share, to accelerate near-term growth opportunities with key customers and facilitate the expansion of its U.S. operations.  The market capitalisation of Big Sofa on listing was c.£9.5 million.

Big Sofa's first day of dealings notice can be read here - http://www.investegate.co.uk/big-sofa-tech--grp---bst-/rns/aim-admission----first-day-of-dealings/201612190700081676S/


This information is provided by RNS
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