Betaville

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Imaginatik said to be working on £2 million equity fundraising Posted: 17 May 2016 02:42 AM PDT Imaginatik, in which controversial businessman Rob Terry has been re-building a substantial stake, is preparing a £2 million equity fundraising. City sources told little old Betaville that Finn Cap, Imaginatik's brokers, are working on plan to raise £1.5 million via a placing and £500,000 via an open offer to investors.  Apparently, the software consulting company wants the extra cash to spend on sales, marketing and technology and rest will be used for working capital. Word is the equity fundraising could come as early as next week although the timetable could change.  What's not clear is whether Rob Terry, the founder of Quindell (now called Watchstone), will participate in the fundraising.  And given Mr Terry's vehicle, Quob Park Estate, has this year been re-building a stake, now at just above 9pc, in Imaginatik I can't imagine he will be that pleased with news of the equity fundraising, especially if it's done at the rumoured price of between 2p and 3p.   Imaginatik declined to comment.

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