Adslot Closes AU$6.4 Million Private Placement

- December 4th, 2019

The private placement offered shares at AU$0.025, a 4.9 percent discount from its November 29, 2019 share price.

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.

Investing in Robotics, AI or Mobile Tech?


Start here! Experts analysis and insight on the top trends before you invest.

Get the latest Australia Investing stock information

Get the latest information about companies associated with Australia Investing Delivered directly to your inbox.

Australia Investing

Select None
Select All

Tags

Leave a Reply