Town will make an announcement later today regarding the club's share issue. The cut-off date for registration was 5pm last night, although applications which arrive in the next couple of days will not be discarded.
The club needed to bring in £1.25 million in order to make the issue viable and we understand that this level has been met and comfortably surpassed.
While £1.25 million was the minimum hoped for, it is likely the club was targeting a figure of around £2 million.
Town plan to use the cash as working capital, although Joe Royle could be handed some funds for loanees or free transfers, depending on the level of investment.
Fans who are still keen to buy shares can purchase £100 worth via Ipswich Town First, the Town Supporters' Trust.
The Trust's share-save scheme will allow fans to buy five shares by paying £10 a month over a period of ten months. The scheme ends on Friday, February 6th.
More details can be found here.