Family Zone Cyber Safety raises AU$20 million in successful share placement

Family Zone Cyber Safety Limited (ASX: FZO) has completed a successful AU$20 million ($14.6 million) placement of fully paid ordinary shares to professional and wholesale investors. This infusion of capital will allow the company to attract a mix of debt and equity to lower the cost of capital for growth and future investments. With a strengthened balance sheet, Family Zone will be able to direct the market's attention to the quality and potential of its underlying business, which is experiencing tremendous growth, and unlock value for shareholders.

The company is growing and managing costs to an expected cash-flow run-rate break even this financial year. The AU$20 million two-tranche placement comprised an unconditional placement of approximately 105 million new Securities at the Offer Price to sophisticated and professional investors and a placement of approximately six million new Securities at the Offer Price to directors of the issuer and an institutional investor.

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