Harvest Technology Group Secures AU$1.59 million in Placement for Growth

Harvest Technology Group Limited (ASX: HTG) has successfully secured AU$1.59 million through a placement to sophisticated investors. The placement was executed at a price of AU$0.015 per share, representing a 25% discount to the last closing price and a 21.3% discount to the 5-day volume-weighted average price (VWAP). A total of 105,894,501 fully paid ordinary placement shares will be issued, constituting 15.0% of the company's share capital.

Additionally, investors will receive attaching options on a 1-for-2 basis (58,947,251) exercisable at 3 cents with a three-year expiry. The funds raised are earmarked for general working capital, subject to shareholder approval and pending resolutions related to board changes. The placement, managed by Alto Capital, includes a 6% capital raising fee and 6 million attaching options for the lead manager.

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