Parsley Box proposes £5.9m equity fundraiser

Edinburgh-based ready meal provider Parsley Box has announced a proposed equity fundraising of approximately £5.9 million.

Parsley Box proposes £5.9m equity fundraiser

Kevin Dorren, CEO of Parsley Box

The fundraiser will work by way of a placing and subscription at a price per share of 20 pence.

Parsley Box has also revealed that it will be making an open offer to qualifying shareholders at the issue price to rasie up to £1.1m.

The company’s directors and associates intend to participate, in aggregate, £4.2m of the fundraising.

The issue price represents a premium of approximately 11.1%.

The proceeds of the Fundraising will be used to target new customer acquisitions, develop an online customer journey tailored to the firm’s demographic and develop a membership program to start a customer community.

The funding will also be used to aid product development for the firm’s food, food + and beyond food strategy

While open offer funds will be used to strengthen the balance sheet and general working capital to support a 4-year-old scale up business.

Share icon
Share this article: