Result of Retail Offer
Ondo InsurTech plc announced that its Retail Offer has conditionally raised approximately £0.29 million and was oversubscribed, leading to the issuance of 9,671,000 shares subject to shareholder approval. This brings the total gross proceeds from the Placing and Retail Offer to approximately £2.9 million. A total of 96,710,000 New Ordinary Shares will be issued, ranking pari passu with existing shares, with admission to trading on the Main Market expected on July 10, 2026.
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THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Terms used but not defined in this announcement have the same meaning as set out in the Company's announcement released at 4:05 pm on 22 June 2026.
Ondo InsurTech plc
("Ondo", the "Group" or the "Company")
Result of Retail Offer
Ondo InsurTech plc confirms that, further to the announcement made by the Company on 23 June 2026, the Retail Offer has conditionally raised approximately £0.29 million with the Retail Offer being oversubscribed. Pursuant to the Retail Offer, the Company will issue a total of 9,671,000 shares, subject to the passing of the Resolutions at the General Meeting of the Company on 9 July 2026.
Accordingly, the Company has conditionally raised total gross proceeds of approximately £2.9 million in aggregate by way of the Placing and the Retail Offer.
In order to satisfy demand under the Retail Offer, 9,671,000 Placing Shares will be clawed back from participants in the Clawback Placing. As a result, Placees who participated in the Clawback Placing will not receive any shares that were subject to clawback. 87,039,000 Placing Shares will be issued as a result of the Placing. In total, 96,710,000 New Ordinary Shares will be issued pursuant to the Fundraising.
Application will be made to London Stock Exchange plc for admission of the Placing Shares and Retail Offer Shares to trading on the Main Market ("Admission"). Subject to shareholder approval at the General Meeting, it is expected that Admission will become effective and dealings in the Placing Shares and Retail Offer Shares will commence at 8:00 a.m. on 10 July 2026.
The New Ordinary Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares.
This Announcement should be read in its entirety. In particular, you should read and understand the information provided in the "Important Notices" section of this Announcement.
Information to Distributors
UK Product Governance Requirements
Solely for the purposes of the product governance requirements of Chapter 3 of the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacture" (for the purposes of the UK MiFIR Product Governance Requirements) may otherwise have with respect thereto, the Retail Offer Shares have been subject to a product approval process, which has determined that the Retail Offer Shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in paragraphs 3.5 and 3.6 of COBS; and (ii) eligible for distribution through all permitted distribution channels (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, distributors should note that: the price of the Retail Offer Shares may decline and investors could lose all or part of their investment; the Retail Offer Shares offer no guaranteed income and no capital protection; and an investment in the Retail Offer Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to any contractual, legal or regulatory selling restrictions in relation to the Retail Offer.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.