Escape Hunt (AIM:ESC), a leading operator of escape rooms in the fast-growing experiential leisure sector, is pleased to announce:
the proposed acquisition of Boom Battle Bars for a total consideration of £17.38 million to be satisfied by the initial payment of £9.88 million in cash and deferred consideration through the issue of up to 25,000,000 Consideration Shares payable subject to an earn-out;
a placing of new ordinary shares to raise £14.775 million for the Company at 30 pence per share (the “Issue Price”) of which £9.88 million will be used to satisfy the cash element of the consideration payable for the proposed acquisition of Boom Battle Bars;
a subscription of new ordinary shares to raise approximately £0.225 million for the Company at the Issue Price; and
an open offer to raise up to a further approximately £2.2 million for the Company on the basis of 1 Open Offer Share for every 12 Ordinary Shares held on the Record Date at the Issue Price.
See here for full details.