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Earnz Closes GBP5 Million Fundraise, Launches Retail Offer

MT Newswires·10/01/2026 08:35:12
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08:35 AM EDT, 10/01/2026 (MT Newswires) -- Earnz (EARN.L) raised 4.8 million pounds sterling after completing its share placing and convertible loan note issue, according to a Thursday filing. The energy services company raised 4.1 million pounds by placing 102,437,500 new ordinary shares at 0.04 pound apiece, and 700,000 pounds by issuing the convertible loan note. Proceeds will be used to settle the initial consideration for its acquisition of Gem New Co. Earnz also initiated a retail offer of up to 25 million of its new ordinary shares at the same price to raise up to 1 million pounds. Net proceeds from the retail offer are earmarked for the enlarged group's additional working capital.