Various Eateries has confirmed it is in advanced stages of conducting a potential fundraising of up to £12m.
The Hugh Osmond-backed operator, which runs Coppa Club and Noci, is also looking into a potential debt for equity conversion.
The c15-strong operator, which has a market cap of £24m, is looking to accelerate growth across the group with the further rollout of both brands.
The announcement to the London Stock Exchange comes after Sky News reported Various Eateries was looking to tap investors for cash to fund expansion.
The company said any potential transaction would be subject to shareholder approval amongst other matters, so there was no guarantee any transaction will go ahead.
A statement said: “The group is well positioned to capitalise on the opportunities that have been presented post Covid, particularly changes in consumer behaviour, and also, both the availability and the commercials of sites. Building upon the success of Coppa Club and Noci, any monies raised from the transaction (less fees) would be used to accelerate growth across the group with the further rollout of both brands.”
