Adslot Ltd (ASX: ADS) has successfully concluded a share placement, raising a total of AU$1.1 million from both new and existing institutional and sophisticated investors. Additionally, the company plans to undertake a fully underwritten 1 for 2.8 pro rata non-renounceable entitlement offer at the same issue price as the placement, aiming to generate an additional AU$3.15 million. The equity raising, consisting of the placement and entitlement offer, will see each share issued accompanied by a one for one free attaching option, exercisable at AU$0.006 until December 31, 2024.
Adslot aims to bolster its financial position and achieve cash flow stability through a recent capital infusion. The funds will be allocated towards product development, activating contracted clients, boosting sales in key markets, and covering transaction expenses. Adslot's strategic cost reduction measures and focus on significant commercial projects in the US, UK, and APAC regions are anticipated to drive substantial revenue growth in the near future.
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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.
