- IT service and management company DC Two (DC2) receives binding commitments to undertake a $2.5 million placement
- More than 16.66 million new fully paid ordinary shares will now be issued to institutional and sophisticated investors at 15 cents
- Furthermore, participants will receive one free attaching option for every two shares subscribed for, exercisable at 30 cents with expiry two years from issue
- DC Two will use the money to complete the tier three accreditation of its Bibra Lake data centra, expand its sales team and fulfil existing contracts
- DC Two has ended the day flat with shares at 18 cents each
IT service and management company DC Two (DC2) has received binding commitments to undertake a $2.5 million placement.
The company entered a trading halt on September 23 but did not disclose how much it intended to raise or what it would use the funds for once received.
A total of 16,666,666 new fully-paid ordinary shares will now be issued to institutional and sophisticated investors at 15 cents each.
This price represents a 16.67 per cent discount to DC Two’s close of 18 cents on September 22 and a 25 per cent discount to the 15-day volume-weighted average price of 20 cents.
Furthermore, participants will be able to receive one free attaching option for every two shares subscribed for, exercisable at 30 cents with expiry two years from issue.
DC Two will use the money to complete the tier three design and construction accreditation of its Bibra Lake data centra, expand its sales team and fulfil existing contracts.
Managing Director Justin Thomas is pleased with the support received.
“We are delighted with the outcome of the placement, which has secured interest from new and existing investors who are committed to our vision of becoming a major player within the Australian data centre sector and recognise DC Two’s potential,” Mr Thomas commented.
“This funding will unlock our ability to grow the company, maximise shareholder return and scale our presence in key markets.”
DC Two has ended the day flat with shares at 18 cents each in a $10.53 million market cap.