Spenda Limited Completes Private Placement, Raising AU$3.9 million

Spenda Limited (ASX: SPX) successfully completes a private placement, raising AU$3.9 million (pre-costs) from institutional and sophisticated investors. The placement received strong support from new and existing investors, as well as the company's Board of Directors and Management.

The funds raised will be allocated towards various purposes, including first loss capital for the company's debt warehouse facility, investment in product development, and meeting general working capital requirements. The placement was managed by Evolution Capital and Red Leaf Securities as Joint Lead Managers. Investors who subscribe to two ordinary shares will receive one complimentary attaching option, with an exercise price of AU$0.0175 and a two-year expiration period. The company intends to seek official quotation for the options, subject to meeting ASX quotation requirements.

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