NICK CANDY BACKS £1.5m AUDIOBOOM FUNDRAISING

AUDIOBOOM’S AUDIOBBOOM’S shaares shares surged after r it clinched li hd another th £1 £1.5m 5 f from i investors t including property tycoon Nick Candy.

The AIM-listed podcast maker raised the funding by issuing 115m shares at a price of 1.3p – a discount to its 1.75p per share closing price on Friday.

It said it will use the cash to pay upfront to secure new and established content for its podcast network.

Candy Ventures, an investment firm owned by 46-year-old Candy, stumped up £600,000 of the £1.5m fundraising. Candy, who is married to former pop star Holly Hol ly Valance (picturedp (pictured with C Candy), d )i is A Audioboom’s di b ’ bi biggest th shareholder, with around a 20pc stake. He helped keep it afloat last year when it faced collapse in May after failing to secure the funds for a proposed £141m purchase of a US rival, Triton Digital.

Last year Audioboom launched podcasts hosted by Jonathan Ross and Heston Blumenthal. Its own-brand podcasts include military operations series Covert and true-crime podcast Dead Men Talking. Shares closed up 13.4pc, or 0.23p, at 1.9p.