- Recruitment business Applyflow (AFW) is getting ready to recruit more cash via a proposed capital raise
- The company entered a trading halt on Tuesday morning to allow it time to plan and execute a fundraise
- No details have been released just yet on how much AFW plans to raise, but the trading halt will expire by Thursday
- Before today’s proposed fundraise announcement, Applyflow revealed a 43 per cent increase in contracts over Q4
- Company shares last traded at 0.6 cents each on Tuesday, June 28
Recruitment business Applyflow (AFW) is getting ready to recruit more cash via a proposed capital raise.
The company entered a trading halt on Tuesday morning to allow it time to plan and execute a fundraise.
AFW hasn’t stated how much it was planning to raise, however an announcement is expected this week with the trading halt due to expire by Thursday, July 1.
Before today’s proposed fundraise announcement, Applyflow revealed a 43 per cent increase in software as a service (SaaS) deployment contracts over Q4.
AFW said $363,000 in total contract value had been recorded, while new and
renewed deployments contributed $488,000 in annualised recurring revenue.
Applyflow CEO Steve Butler said an additional $60,000 in up-front fees had also been received.
“We’re encouraged by the strong demand for Applyflow which, in less than 3 months, has generated over $571,000 in total contract value,” Mr Butler said.
“We are now getting significant traction augmented by product enhancements released in late Q3.”
Prior to Tuesday’s trading halt, company shares last traded at 0.6 cents each on Tuesday, June 28.