In conjunction with the Admission on 29 December 2020, a total of 8,052,895 new Ordinary Shares were placed with institutional and other investors at a price of 38 pence per share (the “Placing Price”) raising gross proceeds of £3.1 million for the Company. The proceeds of the placing will be used by the Company to further grow its loan book and for general working capital purposes.

Vector Capital provides secured, business-to-business loans to SMEs based in England and Wales. Customers typically borrow for general working capital purposes, bridging ahead of refinancing, land development and property acquisition. As of 30 September 2020, the Company had a loan book of £34.7m, with an average loan size of approximately £0.57m.

Agam Jain, CEO of Vector Capital, said: “Vector Capital’s debut on AIM represents a significant milestone and an exciting opportunity for the business. We are delighted with the positive reception received from institutional investors and we are pleased to welcome them on board. Over the last two decades, we have built up a profitable, cash generative business and become a trusted lender by brokers and our Placing and admission to AIM enables us to increase our lending power and scale the business. With a strong pipeline of loans underpinned by market demand, we look forward to executing our growth plans and delivering returns to our shareholders.”

Jeffreys Henry LLP acted as the Reporting Accountant in respect of the IPO.