- 1st Group (1ST) prepares to launch a one-for-three entitlement offer
- Digital health company is aiming to raise $2.3 million and has already secured $1 million ahead of the offer launching
- New shares will be issued at 1.6 cents, an 11 per cent discount to the company’s recent closing price
- 1st Group’s shares last traded at 1.8 cents
1st Group (1ST) is preparing to launch a one-for-three entitlement offer.
1st Group is a digital health company that connects consumers to a variety of healthcare services and information anytime and anywhere, so they can improve and maintain their health.
It works with various health bodies including pharmacies, doctors, dentists, optometrists, allied services, specialists and natural therapists, vets, hospitals, corporates and government agencies.
The company is aiming to raise $2.3 million and has already secured $1 million ahead of the offer launching.
New shares will be issued at 1.6 cents, an 11 per cent discount to the company’s recent closing price.
In its recently released FY report, 1st increased revenue by about 10 per cent to $5.4 million which it believes reflects its trusted platforms and services delivered to clients.
On the other hand, loss after tax increased by 29.2 per cent to about $6.5 million and the company rounded off the financial year with just under $236,000 in cash — a significant drop from the $2.05 million it started with.
Nevertheless, 1st has a positive outlook for FY22 with various strategic partnerships expected to contribute positively to next year’s revenues and drive the uptake of its products and services.
1st Group’s shares last traded at 1.8 cents on Friday, September 3.
1st Group’s shares last traded at 1.8 cents.