Gaming content provider Nektan have placed an additional 2.5 million shares with an investor which is on top of its earlier share placement which concluded in October. They have raised a further £125 000.
The total value of the placement of 54.4 million shares is now worth £2.73 million following the initial placement which raised £2.6 million. Nektan originally intended to raise £3 million through a placement of 52 million shares.
During one phase, Nektan suggested that they would surpass their target and raise £5 million. This led to the placement deadline being extended from 25 September-2 October.
Negotiations with investors ended up revealing that interested parties were proposing terms which were unacceptable to the board. This led to the groups being excluded from the placing and the total ended up falling below the initial target.