LightwaveRF plc ("LightwaveRF" or the "Company") is the Internet of Things ("IOT") provider of the LightwaveRF platform and connected devices enabling domestic and commercial users to remotely monitor and control light, heat, power and security by smartphone, tablet or PC. The Company is pleased to announce that it has raised approximately £215,000 of equity investment from Committed Capital Financial Services Limited ("Committed Capital").
Steve Harris, chief executive of private equity firm Committed Capital, which invested in IFA acquisitor Fairstone, said changes such as the Retail Distribution Review and pension freedoms have made life difficult for small firms.
As a result, he said investors are seeing opportunities to obtain decent returns on their cash by buying small firms and building larger intermediary businesses.
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EIS investment offers one of the most effective tax shelters in the UK market at present. The government introduced the Enterprise Investment Scheme in 1994 in order to encourage private investment into promising smaller UK companies - a sensible plan given the role this sector of the economy plays in driving both employment growth and innovation.
LightwaveRF plc ("LightwaveRF" or the "Company"), the creator of the LightwaveRF Smart Home Platform and products for the Internet of Things enabling households and businesses to remotely operate and controllighting, power, heating and security using smartphones, tablets, PC and MAC applications, today announces a placing and subscription of 6,275,375 New Ordinary Shares at a price of 23 pence per share to raise approximately £1.44 million before expenses ("the Fundraising"). The Fundraising was conducted by WH Ireland and Committed Capital.
AIM listed smart home technology firm LightwaveRF has raised £1.44m through a share issuance conducted with WH Ireland and Committed Capital.
LightwaveRF produces internet of things related products which enable households and businesses to remotely operate and control lighting, power, heating and security using smartphones, tablets, PC and MAC apps.