Catena Media resolves directed share issue
Published 27th January 2020
The issue is in relation to a payment of a portion equal 70% of the final part of the payment for US assets it acquired in December 2016.
The remainder of the earn-out obligation related to the deal equals 30% - and in total $5.8m - will be paid in cash in April.
The newly issued shares are subject to a lock-up period ending on 1 October 2020, with a gradual release during this period.
Catena noted that as a result of the share issue, the number of ordinary shares in the business will be increased by 2,955,470 shares to 61,568,740 shares.
In addition, the share capital in Catena will be increased by €4,433 to €92,353.