Falcon Acquisitions raises £163,000 in share placement

Falcon Acquisitions, an investment company, raised £163,000 after placing shares on the London Stock Exchange (LSE), it reported on Thursday.

The company placed 815,000 ordinary shares at a price of 20p per share.

Falcon Acquisitions was initially admitted to the LSE on 18 January and fundraised £1.95m, before costs.

Following the latest fundraising, the total number of ordinary shares with a value of £0.01 each and the total number of voting rights in the company is 31,190,100. There are no shares held in treasury.

The company will use the proceeds in its fundraising to support its acquisition strategy. Falcon Acquisitions targets acquisitions in the mobile, online and television and broadcasting sectors with a focus on the over-the-top (OTT) content market.

By the end of 2014, 40.3% of American television households subscribed to at least one premium OTT service. The global OTT subscription numbers are predicted to grow to 332.2m and the market to $31.6bn by 2019.

Executive chairman Gert Rieder said: "This injection of capital further strengthens our cash position and provides us with a strong footing to pursue our strategy to identify and acquire assets in the rapidly growing over-the-top market. I look forward to providing further updates in due course."