Chief executive Simon Cooper said move would restore the OTA’s cash balance to May 2020 levels.
On the Beach confirmed its plans for the placing on Tuesday (6 July) before revealing the outcome on Wednesday (7 July).
The OTA put up 7.87 million shares, around 5% of the company’s existing issued share capital, at just under £3.50 per share.
Cooper subscribed for 30,303 shares in the raising, taking his holding to 4.75% of On the Beach’s issued share capital, while all members of the company’s board also participated.
