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- Earlypay (EPY) shares have entered a trading halt while the company gears up for a proposed capital raise
- Shares in the non-bank lender are expected to remain in a trading halt until on or before Thursday June 24
- The raising comes shortly after the non-bank lender reconfirmed its FY21 guidance and reported a marked increase in transaction volumes on the prior corresponding period
- Prior to the trading halt, Earlyoay shares last traded at 48 cents
Earlypay (EPY) shares have entered a trading halt while the company gears up for a proposed capital raise.
Shares in the non-bank lender are expected to remain in a trading halt until further details regarding the raise are made to market on or before Thursday June 24.
Earlypay’s announcement comes less than a week after it reconfirmed its FY21 guidance and recorded a transaction volume of $199 million in March 2021, a 34 per cent increase on the prior corresponding period.
The ASX-lister attributed the growth to an increase in funding requirements from existing clients as well as the onboaring of new clients.
In more recent developments, Earlypay partnered with fellow ASX-lister Digital Wine Ventures (DW8) to supply “flexible credit options” to its customers.
The company reported a cash balance of $22.6 million in its half yearly in December.
Prior to the trading halt, Earlypay shares last traded at 48 cents.
