Adveritas (ASX:AV1) - CEO, Mathew Ratty
CEO, Mathew Ratty
Source: Mathew Ratty/LinkedIn
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Software company Adveritas (AV1) raises $3 million and will use the money to support further growth
  • Specifically, the money will be used to hire additional staff, commercialise its Freemium subscribes, and grow partnerships
  • The funds were raised through the issue of 30 million fully-paid ordinary shares to professional and sophisticated investors at 10 cents each
  • Subject to shareholder approval, five million shares will be issued to Non-Executive Director Mark McConnell
  • Shares in Adveritas were up 18.8 per cent to end the day at 9.5 cents each

Software company Adveritas (AV1) has raised $3 million and will use the money to support further growth.

Specifically, the money will be used to hire additional staff, commercialise its Freemium subscribes, and grow partnerships.

The funds were raised through the issue of 30 million fully-paid ordinary shares to professional and sophisticated investors at 10 cents each.

This price represents a 25 per cent premium to Adveritas’ closing price of eight cents on October 21 and a 34 per cent premium to the 15-day volume-weighted average price.

Subject to shareholder approval, five million shares will be issued to Non-Executive Director Mark McConnell.

“With our go-to-market channels including our direct sales force, marketing agencies, Google Cloud Marketplace and other channel partners such as RavenTrack, we are well placed to continue our growth trajectory across enterprise and SME clients,” Co-Founder and CEO Mat Ratty said.

“We are excited by the potential we see for our software to improve the digital advertising and marketing performance of our clients by eliminating ad fraud at such a critical time for many organisations across the globe.”

Shares in Adveritas were up 18.8 per cent to end the day at 9.5 cents each.

AV1 by the numbers
More From The Market Online
The words "Market Open ASX 200 Futures Tip FALL" appear stacked atop one another next to ASX company iconography.

ASX Market Open: Tech fumble on Wall Street to seep into Week 51 opening | Dec 15

ASX today – Australian shares are heading for a Monday fall, with futures down as much…
The Market Online Video

HotCopper Highlights, Week 50: 4DX above $2/sh, Nanoveu, Ovanti & more

Good Afternoon and welcome to HotCopper Highlights wrapping up Week 50 of the year, I’m Jon Davidson.

‘Potential is enormous’: GreenX likes what it’s found in Tannenberg, is activating acquisition option

GreenX Metals has activated an option to secure control of the Tannenberg Copper Project in Germany,…
The Market Online Video

ASX Market Open: Oz shares heading for W50 weekly gains with Friday rally | Dec 12

ASX today – The third-last week of CY25 may actually end on gains, with a late-on…