ASX-listed Splitit Payments was asking investors to tip in $8 million on Friday to stock up its balance sheet and to develop its product offering.
ASX-listed Splitit Payments was asking investors to tip in $8 million on Friday to stock up its balance sheet and to spend on its product.The placement was priced at 17.5¢ a share, a 14.6 per cent discount to the last close and 24.1 per cent lower than the 15-day volume weighted average price. It included a one-for-two option with a 20¢ strike price and two-and-half-year expiry that the company intended to list.
The term sheet said it would use the raise’s proceeds for product enhancements and development, general working capital and to strengthen the balance sheet to support large merchant and partner acquisition. Canaccord Genuity was the lead manager and called for bids by 5pm Friday. Splitit had a $30.9 million market capitalisation before the raise.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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