Arena Events Group plc (AIM:ARE) will look for acquisitions. The Company announced that it has conditionally raised £11 million (before fees and expenses) by way of a subscription for 10,714,285 new Ordinary Shares and a placing of 67,857,143 new Ordinary Shares, in each case at a price of 14 pence per share. The net proceeds of the £11 million Capital Raising will be used to take advantage of opportunities presented by current market conditions to acquire undervalued assets, including the potential acquisition of Aztec Shaffer.