- Carly Holdings (CL8) taps investors for $1.6 million to accelerate business growth
- The oversubscribed placement will include the issue of 64 million CL8 shares at 2.5 cents apiece – a 19.55 per cent discount to the 15-day VWAP
- Carly says the funds will go toward advancing its EV strategy, as well as accelerating subscription growth and providing general working capital
- The company will also issue 32 million options, on a one-for-two basis, exercisable at 6 cents per option with an expiry date set for October 31 2024
- Shares in CL8 last traded at 3.3 cents
Carly Holdings (CL8) has tapped investors for $1.6 million to accelerate business growth.
The oversubscribed placement, which the company announced was strongly supported by new and existing shareholders includes the issue of 64 million shares at 2.5 cents apiece – a 19.55 per cent discount to the 15-day VWAP.
The company also reported placement subscribers would receive free-attaching options on a one-for-two basis, exercisable at 6 cents per option. Carly announced it would issue 32 million new options, with an expiry date set for October 31 2024.
Carly CEO and Executive Director Chris Noone said it felt “really good” to achieve an oversubscribed raise as a subscription business.
“The level of interest in Carly is extremely gratifying following the efforts we have made to deliver strong results and clearly articulate the investment proposition,” he said.
“Carly is now well placed to accelerate our EV, consumer and business strategies and optimise our processes through the adoption of AI and advanced platform technologies.”
As mentioned, proceeds from the raise will go toward “substantially” accelerating the growth of the business, leveraging the recent asset finance facility to increase the company’s vehicle fleet.
Additionally, the fresh cash will be used to advance CL8’s electric vehicle (EV) strategy, increasing the user adoption of EVs and using the benefits of artificial intelligence and machine learning in operations and marketing.
Carly also announced the funds would provide general working capital.
Shares in CL8 last traded at 3.3 cents.