Marwyn Value Investors L.P., the Master Fund through which Marwyn Value Investors makes its investments, intends to subscribe as a cornerstone investor for new ordinary shares in Gloo Networks plc, which has announced today its intention to float on the AIM Market of the London Stock Exchange plc.
Gloo Networks is a technology company that aims to connect some of the world’s most-loved content with its most-valued consumers. It intends to acquire trusted consumer brands in the media sector that appeal to attractive socio-economic groups and to use data and technology to change their business models to ultimately unlock value and increase profitability.
Gloo intends to acquire and operate businesses initially with an enterprise value in the range of £250m to £1bn and will be led by digital transformation experts Rebecca Miskin (Chief Executive Officer) and Juan Lopez-Valcarcel (Chief Product and Operations Officer).
Gloo is carrying out an initial capital raise of up to £30m to provide due diligence and operating capital prior to a subsequent acquisition. Gloo’s ordinary shares (including the new ordinary shares to be owned by the Master Fund) are expected to be admitted to trading on AIM for the first time in mid-August 2015.
James Corsellis and Mark Brangstrup Watts, the founders of the Marwyn Group, are both directors of Gloo Networks.
MVI : Marwyn buys into Gloo Networks