SHARES in Pinnacle Technology Group have soared by nearly 30 per cent after it raised £860,000 via a fresh share placing.
The issue allowed MXC Capital to make a strategic investment in the IT to telecoms business, with the funding earmarked to drive growth and provide working capital.
AIM-listed Pinnacle, which has also appointed MXC to provide corporate finance advice, raised the capital by placing 13,164,122 new ordinary shares at a price of 6.5p per ordinary share.
Shares closed up 1.62p, or 28.9 per cent, at 7.25p.
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