- Future First Technologies (FFT) has entered a trading halt as the company prepares to undertake an institutional placement
- The tech stock entered a two-day trading halt on Thursday and will announce the full details of the placement on or before Monday
- FFT recently raised $420,690 via a non-renounceable entitlement offer, with 9.35 million shares subscribed for, leaving a shortfall of 132.6 million shares
- The company is committed to placing the shortfall shares, saying it would offer the stock to professional and sophisticated investors
- Before the trading halt came into place, FFT shares last traded at 3.8 cents each
Future First Technologies (FFT) has entered a trading halt as the company prepares to undertake an institutional placement.
The technology stock operates as a digital platform creator and owns titles such as the Asset Vision platform and the farmbuy.com website.
FFT entered a two-day trading halt on Thursday and will remain halted until the full details of the placement are announced on or before Monday.
The digital platform creator recently raised $420,690 in extra cash via a 1 for 3 pro-rata non-renounceable entitlement offer.
Around 9.35 million FFT shares were subscribed for out of the 141.96 million securities offered under the rights issue.
Due to the low subscription, FFT was left with a shortfall of 132.6 million shares.
In a statement, the company said it was committed to placing the shortfall shares, saying it would offer the stock to professional and sophisticated investors.
Before today’s trading halt, shares in Future First Technologies (FFT) were trading at 3.8 cents each on Wednesday.