Dubber secures AU$10.25 million through an equity capital raise

Dubber Corporation Limited (ASX: DUB) has announced successful firm commitments to raise AU$10.25 million before costs through a two-tranche placement (Placement) targeted at professional and sophisticated investors. The placement involves the issuance of fully paid ordinary shares (Shares) at a price of AU$0.14 per share. The Tranche 1, will raise approximately AU$6.5 million for the issuance of 46,371,531 Shares. The settlement for Tranche 1 is expected to occur on 1st August 2023.

The second tranche, Tranche 2, will raise approximately AU$3.75 million for 26,842,755 Shares. Notably, this tranche includes an AU$1.25 million commitment from Dubber directors and management. However, shareholders' approval is required for this specific portion. After accounting for expenses, the funds raised from the Placement will be employed to bolster the Company's balance sheet and support general working capital needs.

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