- Digital health company 1st Group (1ST) has received commitments to raise $4.5 million through a placement
- The funds will be used to support 1st Group’s growth strategy including additional sales and marketing capabilities and technology development
- The placement shares will be issued on or around December 18.
- 1st group is up 5.48 per cent following news of the placement and shares are trading for 7.7 cents each
Digital health company 1st Group (1ST) has received commitments from institutional, sophisticated and professional investors for a $4.5 million placement.
The placement will issue 69,230,769 fully paid ordinary shares at an issue price of $0.065 per share; an 11 per cent discount to the last price before the trading halt.
Funds raised under the placement will be used to support 1st Group’s growth strategy including additional sales and marketing capabilities, technology development, working capital requirement and other general corporate purposes.
“We are delighted with the strong support shown by existing and new investors for 1st Group. This raise was initiated by institutional investor interest and reflects the confidence in our growth strategy and market opportunities,” CEO Klaus Bartosch said.
1st Group is a digital health company with integrated platforms that provide an easy way for health professionals and patients to book and schedule appointments.
The placement shares will be issued on or around December 18.
1st group is up 5.48 per cent following news of the placement and shares are trading for 7.7 cents each at 1:44 pm AEDT.