Tasty plc, the owner and operator of 57 restaurants under the Wildwood and Dim-T brands, has raised £3.25m, which is earmarked for debt repayment.
It is issuing 75 million new shares, priced at 4p each, to new and existing institutional and other investors, and, a further £250k may be raised through an accompanying open offer to other existing shareholders.
Keith Lassman, Chairman of Tasty, said 'This is an important fundraise for Tasty as it will enable us to continue our strategic plans with vigour.
'We are delighted with the level of investor support for the Placing and we would like to thank our shareholders for their continued support.'