University of Surrey in-video advertising spinout Mirriad is set to raise $35m in an initial public offering at a market cap of $84.4m.
Mirriad, a UK-based video technology spinout from University of Surrey, is targeting £26.2m ($35m) in gross proceeds in its initial public offering on Aim.
Mirriad, which will enter the public markets under the ticker symbol Miri on December 19, will sell approximately 42.2 million new shares priced at £0.62 each. The flotation will result in a market cap of £63.2m.
Commercialisation firm IP Group has committed £3.7m to the offering and will own a 27.2% stake following completion of the…
