Spenda Limited raises AU$7.175 million via private placement

Spenda Limited (ASX: SPX) announced that it has entered into a binding agreement for a new cornerstone investment by Capricorn Society Ltd raising AU$7.175 million via private placement. The company is now sufficiently funded to achieve its commercial ambitions. Capricorn has undergone an extensive due diligence process and this cornerstone investment reflects their confidence in Spenda’s unique payments software and the Company’s earnings potential over time.

Pursuant to the new agreement, SPX will issue 592,975,206 shares at an issue price of AU$0.0121 per share representing 13.75% of its issued share capital upon completion of the new share placement. The issue price of AU$0.0121 represents a discount of approximately 9.97% to the 15-day VWAP and a discount of approximately 7.7% to the 30-day VWAP.

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