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Tandem

Follow-on - Pre-emption

Tandem is the UK’s next generation digital bank, helping customers live a better life with their money.

Location
GB London, United Kingdom
tandem.co.uk

Categories: Finance & Payments Digital B2C

Investment
sought:
£16,103,632
Equity
offered:
10.33%
Funded 9 Apr 2019
Investment
amount:
£16,201,044
Valuation
(pre-money):
£139,771,207

Idea

Introduction

This is a pre-emption campaign for existing shareholders in Tandem Bank.

Tandem Bank has recently closed a £15,000,000.00 investment from an institutional investor (Convoy), which is now being pre-empted on by way of this campaign. Other investment in this round represents pre-emption investment by other investors.

Brief details are listed below, with a further update available as a downloadable document attached to this campaign, which you can request access to.

This offer is to subscribe for new Ordinary B Shares in Tandem Money Limited at a price of £1.33 per Ordinary B Share payable in cash. There are no other preferential equity rights outstanding which would subordinate the equity in the Company.

The Ordinary B Shares will, when issued and fully paid, rank pari passu in all respects with the Ordinary B Shares issued to Convoy, including the right to receive in full all dividends and other distributions declared, made or paid by reference to a record date after the date of their issue.

Tandem Bank are happy to accept subscriptions above your pro-rata pre-emption allowance.

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.