By Sabela Ojea
KRM22 PLC said Monday that its performance in the second half of 2021 has been similar to the previous half and it expects to miss market expectations for its full-year revenue and adjusted losses before interest, taxes, depreciation and amortization.
The risk-management technology and software company said that it expects to post revenue of 4.3 million pounds ($5.9 million) and an adjusted Ebitda loss of GBP600,000 for 2021 as a whole.
The London-listed company said it has entered into a conditional subscription agreement with 7RIDGE Investments 3 LP to subscribe for up to 25% of its share capital at a premium price of 53 pence a share to raise around GBP4.7 million. KRM22’s closing share price as at Friday was 33.50 pence a share.
7RIDGE has conditionally agreed to subscribe for up to 8.9 million new shares in the company, the company noted.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
Read More: KRM22 Warns It Will Miss FY Market Views; Aims to Raise GBP4.7