"We have met our objectives in each respect and exceeded our Working Capital target, which creates a firm financial platform from which the Club can now move forward.
"In common with virtually all clubs in today's depressed football economy, our finances will remain tight, however, with fundraising complete we can now focus single-mindedly on football and supporting Joe Royle and his players to achieve the desired results on the pitch.
"By adding new and existing Shareholders, nearly 3,500 friends and supporters now share in the ownership of Ipswich Town Football Club. This fits entirely with our core value and strategy of operating as a socially inclusive Club that is fully integrated within its community.
"We have come through a difficult and arduous time that has caused all sorts of pressures. However, the success of this fundraising enables a line to be drawn under the events of last year; we can and must now move on to build on the many strengths the Club possesses."