appScatter Group (APPS); acquire Airpush and issue £2.2m new shares

Published on 09-04-2019 07:37:07
Author Sparks Team

appScatter has proposed an acquisition of Airpush, a mobile ad network and mobile monetization company, which represents a reverse takeover under the AIM Rules. The issue of new shares in appScatter will fund the proposed acquisition. Existing appScatter and Airpush shareholders will account for 25% and 75% of the enlarged share capital, respectively.

appScatter also announced a £2.2m subscription for new shares, at 26.8p per share. Commitments on the subscription of £885,000 have been received and the remaining £1.315m and £2.2m subscription funds are expected to be received in the next few days.

Philip Marcella, appScatter CEO, commented: “The merging of the two companies will create a single, end to end platform for the management and monetisation of mobile apps for developers and publishers worldwide. Our new platform will have over 600k registered developers, supporting 850 million end users, reaching 250 million devices using the firmware updater, pre-installed at factory level.“

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