R&Q pivots to $100mn placement as it abandons Brickell deal
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R&Q pivots to $100mn placement as it abandons Brickell deal

Marcel Le Gouais
25 May 2022
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DONT USE OLD DONT USE

R&Q has given up on its proposed sale to 777 Partners-owned Brickell after shareholders voted against the transaction tonight following the buyer’s attempted withdrawal late on Monday, and will now pursue a $100mn rights issue to shore up its balance sheet.

The company will have to pursue the $100mn rights issue – alongside an $8mn open offer fundraise – against a backdrop of significant uncertainty and following a 42% collapse in the share price today to just 81 pence.

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News R&Q Legacy
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Marcel Le Gouais
Deputy Editor
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