ActivePort Group Ltd (ASX:ATV) has successfully completed an oversubscribed placement, securing AU$2.5 million in irrevocable commitments from new and existing investors. The funding will drive the company's expansion in FY24, supporting the growth of its technical delivery team and the conversion of a substantial pipeline of new software installations into recurring revenue. In FY23, ActivePort achieved remarkable software revenue growth of 692%, reaching AU$8.3 million, and plans to maintain profitability while scaling up its operations.
The recent launch of the Global Edge Network-as-a-service portal in June 2023 is expected to contribute to profitable revenue growth. The company aims to capitalize on its extensive customer pipeline by expanding its delivery capacity across regions. The placement involves issuing 25,000,000 fully paid ordinary shares at AU$0.10 per share, along with Attaching Options. Additionally, 7,000,000 options will be issued, further supporting ActivePort's strategic objectives. The Placement was managed by Bridge Street Capital Partners.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
