Ultimate Sports Group has raised £290,000 at 14.5p a share.
The latest subscription was at a very small discount to the market price, although it did trade as high as 20p in the past year. In February 2018, £537,500 was raised at 5p a share. There was £414,000 in the bank at the end of 2018.
The sport in schools business continues to be profitable but the group loses money because of the overheads of being a quoted company. The previous fundraising brought Richard Bernstein as a strategic shareholder and he intends to introduce acquisition opportunities.
The latest cash raise could be a precursor to a potential deal.
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