- Dotz Nano (DTZ) is tapping professional investors for $4 million to carry on with its energy-sector-focused tech strategy
- The private placement comprises the issuance of more than 19 million shares at 20 cents apiece, representing a 18.4 per cent discount to last trading price on July 21
- The company operates in supply chain tracking solutions for chemical businesses as well as providing services to oil and gas companies
- Its technology can also be used as an anti-counterfeiting solution
- Dotz shares last traded at 20.5 cents
Dotz Nano (DTZ) has entered agreements to tap investors for $4 million to fund its ongoing operations through a professional private placement.
The company develops a range of products using its nanotechnology tech, including one key component of the business that seeks to prevent counterfeiting by ‘marking’ products to boost supply chain transparency.
This can be used to verify the legitimacy of advertised ESG standards in supply chains, as well as preventing criminal black-market reproduction of patented goods. The company also offers software to energy companies and is pivoting into decarbonisation.
Funds raised will be used to further the company’s activities across H1 FY24.
Several existing and new institutional investors were called up to chip in, including the South Israel Bridging Fund (SIBF).
The company will issue 19.807 million ordinary shares at a price of 20 cents each, which reflects an 18.4 per cent discount to the last closing price on July 21.
Dotz is also to issue unlisted options to apply for up to 9.903 million ordinary shares with an exercise price of 35 cents that expire two years after the date of issue.
The company has been firming up its relationships in the oil and gas sector in recent history, partnering with an undisclosed NASDAQ lister in late 2022.
Dotz shares last traded at 20.5 cents.