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- Bigtincan (BTH) has entered a trading halt regarding a capital raising and material transaction
- The sales software company will remain in the halt until December 23 or when an announcement is made, whichever occurs first
- On November 3, Bigtincan was awarded a $1 million contract with U.S.-based financial services specialist John Hancock
- This contract saw the company’s software applied to John Hancock’s sales team to make them better informed to deal with knowledgeable customers
- Bigtincan last entered a trading halt in mid-May ahead of a $40 million capital raising
- Once received, the company used the money to accelerate priorities and grow technology investments
- Shares in BTH last traded at $1.12 on December 21
Bigtincan (BTH) has entered a trading halt ahead of a capital raising and material transaction.
The sales software company will remain in the halt until December 23 or when an announcement is made, whichever occurs first.
On November 3, Bigtincan was awarded a $1 million contract with U.S.-based financial services specialist John Hancock.
This contract saw BTH’s software applied to John Hancock’s sales team to make them deal with customers who are more educated and informed about the financial world.
This software is designed to streamline a company’s sales processes and automate sales to make the sales team more productive.
Bigtincan last entered a trading halt in mid-May ahead of a $40 million capital raising, which consisted of a $35 million placement and $5 million share purchase plan.
Under the placement, more than 52.2 million shares were issued to institutional investors at 67 cents, representing a 10.2 per cent discount to the five-day volume-weighted average price.
In regards to the share purchase plan, eligible shareholders were able to subscribe for up to $5000 worth of shares to raise $5 million.
Upon completion of the placement and plan, Bigtincan used the funds to accelerate priorities, grow technology investments, and for working capital.
Bigtincan is yet to disclose how much it is aiming to raise and what it will use the funds for once received. No further details have been provided about the acquisition so far.
Shares in BTH last traded at $1.12 on December 21.
