Funding Circle SME Income Fund (FCIF) has announced that it is launching a placing of C Shares under its share issuance programme. This is the company’s first potential share issuance, under its share issuance programme, which was established to raise funds over a twelve month period. The C Share placing is expected to close on 6 April 2017, at a placing price of 100 pence per C Share.
The Net Proceeds of the C Share Issue will be used to purchase investments originated by Funding Circle in line with the Investment Objective and the Investment Policy, save to the extent that some of the Net Proceeds will be retained for working capital purposes, and subject to the availability of sufficient investment opportunities. The direct costs and expenses of the C Share Issue, plus a contribution to the costs incurred by the Company in publishing the Prospectus, will be paid out of the gross proceeds of the C Share Issue and will be borne by holders of C Shares only.
Funding Circle SME Income Fund launches C share placing : FCIF