Funding Circle SME Income Fund (FCIF) has announced that its recent C share placing has seen 142,000,000 C Shares placed raising gross proceeds of £142 million. The net proceeds of the issue are to be used to purchase investments originated by Funding, save to the extent that some will be retained for working capital purposes, and subject to the availability of sufficient investment opportunities. The company says that it is intended that the net proceeds from the C Share Issue will be substantially invested and the C Shares converted to Ordinary Shares within nine calendar months. The issue almost doubles the size of the Company. The Company expects the c shares to be admitted to trading Admission on 11 April 2017.
Funding Circle SME Income’s C Share raises £142m : FCIF