Blue Star Capital Announces Conditional £250,000 Fundraise
Why we think this is good
The RNS announcement details a conditional fundraise of £250,000 for Blue Star Capital, which will strengthen the company's financial position and provide additional investment capital and working capital. The fundraise is subject to shareholder approval, which is a standard requirement. The company is also exploring opportunities related to Bitcoin, which could be a positive strategic move if executed well. Overall, the news is positive for the company, but does not meet the criteria for a 'very good' rating as it is not a profit upgrade or a statement of trading significantly ahead of expectations.
Key Points
- Conditional fundraise of £250,000 through placing of new shares
- Funds to support growth of SatoshiPay and provide working capital
- Company exploring opportunities related to Bitcoin
Summary
Blue Star Capital plc (AIM: BLU), the investing company with a focus on blockchain, esports and payments, has announced a conditional fundraise of £250,000 through the placing of 2,272,727 new ordinary shares. The fundraise is subject to shareholder approval and will provide the company with additional investment capital to support the growth of its principal investment, SatoshiPay Ltd, as well as working capital. The company is also exploring opportunities related to Bitcoin, which could be a positive strategic move.