Brave Bison has raised £13.5m of equity funding at 2.45p for the £19m cash purchase of MiniMBA, a marketing skills and training platform. It is structured as a carve out deal from Centaur Media plc, representing a buyout on an adj P/E multiple of 5.5x. The transaction will see the MiniMBA founder and industry titan, Professor Mark Ritson, invest £2m in the placing and a further £2m within 24 months of completion. We upgrade FY25E revenue by £3.7m to £29.2m and adj EPS by 9% to 0.31p. On an FY25E ....
