IN BRIEF: Tap Global raises GBP1 million as planned from share placing

Tap Global Group PLC - London-based cryptocurrency payment and settlement - Raises £1.0 million before expenses from a placing of 100.0 million new shares at 1.0 pence each. The equity raise is in line with the plan Tap Global had announced after the London market close on Friday last week, and is "heavily oversubscribed", the company says. Chief Executive Officer & Co-Founder Arsen Torosian subscribes for 17.5 million of the placing shares and now holds 460.0 million shares, a 54.5% stake.

The fresh funds will be used to acquire digital assets such as bitcoin, ethereum and solana. "The successful placing marks an important step in our strategy to build a unique income-generating digital asset treasury, enabling Tap to begin accumulating assets at what we believe are attractive levels while generating income through a proven Tap Earn product," Torosian says.

Shares resume trading on Tuesday, having been suspended on Monday for the equity raise.

Current stock price: 1.20p, up 14% in London around midday on Tuesday

12-month change: down 14%

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