Adisyn

Adisyn Announces Share Placement to Support Cybersecurity Growth

Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company") is pleased to announce it has received binding commitments to successfully raise $400,000 through a Company led placement (“Placement”).


Highlights:

  • Placement will see the Company issue 20,000,000 new fully paid ordinary shares at an issue price of $0.02 per share, representing a nil discount to 15 day VWAP.
  • Funds will be used to expand newly formed cybersecurity division, with an increase in sales and marketing efforts as well as the development of new AI powered cybersecurity services.
  • Adisyn Cyber has entered into a Memorandum of Understanding (MOU) with Al Nasr Technical Trading Agencies (ATTA Group).
The Placement will see the Company issue 20,000,000 new fully paid ordinary shares at an issue price of $0.02 per share, representing a nil discount to Adisyn’s 15 day VWAP. The Placement has been conducted pursuant to the Company’s existing placement capacity, with strong support from new sophisticated investors, as well as existing shareholders and employees. 7,000,000 shares are to be issued pursuant to ASX Listing Rule 7.1, and 13,000,000 shares are to be issued pursuant to ASX Listing Rule 7.1A.

Funds will be used to expand the Companys newly formed cybersecurity division, Adisyn Cyber, with an increase in sales and marketing efforts as well as the development of a number of new AI

powered cybersecurity services.

The new cybersecurity services being developed are focused on assisting businesses to manage their obligations for the handling of personal data under the new Privacy Legislation Amendment (Enforcement and Other Measures) Act 2022. These services include threat intelligence and

contextual security operations, and an AI powered Personally Identifiable Information (PII) de- identification tool (ASX: 26 October 2023).

Since the completion of the acquisition of Thomas Cyber (ASX: 17 July 2023), the Company has been successfully engaged to perform cybersecurity services for a number of new and existing clients including EMVision Medical Devices (ASX: EMV), Hazer Group (ASX: HZR), The Agency (ASX: AU1) and the Fremantle Football Club.

The Company plans to continue to execute on it’s plan to cross-sell cybersecurity services to existing clients across the Companys other business units, and will focus it’s sales and marketing efforts on the acquisition of new cybersecurity clients.

Furthermore, Adisyn Cyber has entered into a Memorandum of Understanding (MOU) with Al Nasr Technical Trading Agencies (ATTA Group) to explore the supply of IT and Cybersecurity systems in UAE, Saudi Arabia and Oman. ATTA Group is a UAE based corporation in the Oil & Gas industry, specialising in the provision of trading services.


Click here for the full ASX Release

This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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