Identitii Limited (ASX: ID8) announces that it has secured firm bids for the remaining shortfall from its recent Rights Issue, raising an additional AU$491,745 at the issue price of AU$0.01 per Share. This brings the total capital raised under the Rights Issue to AU$2,151,190 before costs. SP Corporate Advisory placed the shortfall with new institutional shareholders in Australia and Asia, following productive meetings with potential investors in Hong Kong and Singapore facilitated by Spark Plus.
John Rayment, CEO of Identitii, expressed his sincere gratitude to participants in the Shortfall Offer and all shareholders for their unwavering support. He reassured them that the company is committed to creating value for them and that the fresh capital will be dedicated to this goal. After covering costs, the funds raised through the Rights Issue will be utilized for working capital, including finalizing contract negotiations, pursuing technology partnerships to attract new customers at scale, seizing validated opportunities in the data-sharing space, and ensuring the continuation of the patent litigation claim.
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