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CentralNic to add £30 million in shares tomorrow to pay for acquisition

Funds will be used to complete Codewise acquisition.

Landing page for ZeroPark
CentralNic is raising funds to buy two businesses under the Codewise umbrella, including ZeroPark (pictured)

Domain name rollup CentralNic (London AIM: CNIC) is placing 40 million new ordinary shares tomorrow at £0.75 per share to raise £30 million.

The company will use the funds to complete its acquisition of Codewise for USD $36 million. Codewise caters to affiliate marketers with its zero click domain monetization business ZeroPark and ad tracking platform Voluum.

CentralNic has paid for other recent acquisitions with bond offerings. But its stock value has increased a lot, making payment by issuing new equity more favorably. The stock closed today at 86.75 pence, up from just 40 pence in October 2019.

The Codewise acquisition is full steam ahead. Acquisition deliverables have been met and the deal is now unconditional to take place on October 31, 2020.

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