- engage:BDR (EN1) has placed its shares in a trading halt as it gets ready to execute a capital raising
- The advertising company will remain in the halt until the commencement of trade on Wednesday, November 25
- Shareholders will likely have to wait until then to find out how much engage is hoping to raise and what the money will go towards
- Today’s proposed capital raising is the second time in four months the company has tapped investors for fresh funding
- EN1 carried out a fundraise back in August, successfully raising $2.14 million via a placement
- The company ended the September quarter with $2.7 million in the bank, up from $1.7 million at the start of the period
- Shares in engage:BDR last traded for 0.8 cents each on November 20
engage:BDR (EN1) has placed its shares in a trading halt as it gets ready to execute a capital raising.
The advertising company’s shares will remain in a halt until the commencement of trade on Wednesday, November 25.
Unless it can announce the details early, shareholders will likely have to wait until then to find out how much engage is hoping to raise and what for.
Today’s proposed capital raising is the second time in four months the company has tapped investors for fresh funding.
EN1 carried out a fundraise back in August, successfully raising $2.14 million via a placement for professional and sophisticated investors.
More recently, the company ended the September quarter with $2.7 million worth of cash in the bank.
That’s well up from $1.7 million engage had at the start of the period, and a considerable increase on the $1.4 million average it had across 2019.
It also had $40.9 million in total funding available — enough cash and funds on hand to keep the business going for 55 quarters.
Before today’s trading halt came into effect, shares in EN1 were trading for 0.8 cents each on November 20.