Hipgnosis Songs Fund Limited (LSE:SONG) will seek acquisitions. Hipgnosis Songs Fund announced, a retail offer via PrimaryBid (the "PrimaryBid Offer") of up to 3,642,583 new Ordinary Shares at a price of 116 pence per Ordinary Share (the "Issue Price"). As separately announced on 21 September 2020, the Company is also conducting a non pre-emptive placing of Ordinary Shares (the "Placing", together with the PrimaryBid Offer the "Issue") under the Company's existing placing programme pursuant to the prospectus published by the Company on 27 September 2019, as supplemented from time to time (the "Prospectus"). The net proceeds of the Issue are expected to be used to fund the acquisition of a significant pipeline of catalogues with a blended acquisition multiple of approximately 18x historic annual income.