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AIM-listed podcasting platform Audioboom (LON:BOOM) has seen its share price drop by 5.80% to 2.36p (as of 10:45 BST) after it confirmed recent online commentary that it would be looking to raise additional funding. Management said that the business would be working to raise around £5 million through the issue of new shares in order to capitalise on emerging opportunities and continue the revenue growth seen in recent periods.
The business is also looking at non-equity based methods of raising capital, including a third party guarantee facility, but management reiterated that at the current moment in time there were no guarantees that any of these measures would be implemented or their timing.
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