Adslot Closes AU$6.4 Million Private Placement

Adslot (ASX:ADJ), a media technology firm announced the closing of a AU$6.4 million private placement. As part of the placement, Adslot will issue 264 million shares at a price of AU$0.25 for working capital and product development purposes.

As quoted in the press release:

Placement details

The Placement involves the issue of 256,000,000 new, fully paid ordinary shares (New Shares) at $0.025 per New Share (Offer Price) to raise $6.4 million (before costs).

The Offer Price represents:

• A discount of approximately 4.9% to the Volume Weighted Average Price (VWAP) for the 30-day period up to and including 29 November 2019 (the last day of trading prior to the trading halt in connection with the Placement), which was $0.026.

• A discount of approximately 13.8% to the closing price on 29 November 2019, which was $0.029.

Click here to read the full press release.