HTG secures AU$2.1 million through placement to boost growth initiatives

Harvest Technology Group Limited (ASX: HTG) has recently announced successful commitments from sophisticated investors to raise AU$2.1 million (before costs) through a share placement. The placement was executed at AU$0.037 per share, indicating a discount of 21.3% compared to the closing price of AU$0.047 on Thursday, July 6, 2023, and an 18.3% discount to the 5-day volume weighted average price (VWAP) of AU$0.0453.

The capital raised will provide the company with ample funds to support its growth strategy, including accelerating sales funnel growth, expanding sales and marketing efforts in the UK, EMEA, and US regions, and increasing resources and inventory to facilitate the pipeline and pilot and prelaunch of their product, "NS2". Additionally, Harvest Technology Group intends to launch a share purchase plan (SPP) at the same offer price as the placement, aiming to raise to AU$1 million (before costs).

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