According to The Irish Independent, Irish travel software firm Datalex is planning to raise €25 million, €16.8 million of which is already conditionally committed.
The travel software company will use the funds to support the implementation of new revenue opportunities and to accelerate investment in its Software as a Service product strategy, according to a statement from the group.
Funds
Datalex sells software to groups such as Aer Lingus, JetBlue, and Air China that help generate additional revenue from customers through ancillary products.
The company is raising the funds by way of a Cornerstone Placing (€14.7m), Firm Placing (€4.2m) and Placing and Open Offer (together €6.1m) of newly issued ordinary shares in the group.
The new ordinary shares will be issued at a price of €0.50 each.
The Cornerstone Placing will be carried out through a combination of commitments from existing shareholders including Dermot Desmond’s IIU Nominees,…