7digital Group said its open offer - part of the capital raising announced on 1 Dec - was significantly oversubscribed.
It said valid acceptances had been received in respect of 45,414,533 open iffer Shares, including applications for 39,639,569 shares under the excess application facility.
It said this represented approximately 363.3% of the maximum number of shares available under the open offer. 7digital said qualifying shareholders who had validly applied for open offer shares would receive their full entitlement.
Applications for new ordinary shares under the excess application facility will be scaled back pro rata to the number of excess shares applied for by qualifying shareholders under the facility. The company said it had raised gross proceeds of £0.5m through the open offer which was in addition to the approximately £8.0m, before expenses, to be raised through the placing and the subscription.
At 9:16am: (LON:7DIG) 7digital Group Plc share price was +0.13p at 4.88p