- Loyalty and rewards company Gratifii (GTI) receives firm commitments for a $3.7 million placement
- The placement will be carried out in two phases with more than 142 million shares issued to institutional, professional and sophisticated investors at 2.6 cents
- Eligible shareholders will also be offered the opportunity to participate in a share purchase plan (SPP) to raise a further $300,000
- Gratifii will use the money to expand its technology platform, invest in the Mosaic enterprise platform and pay any final earn-out payments under the Neat Ideas acquisition
- Gratifii ends the day 3.57 per cent in the red with shares trading at 2.7 cents
Loyalty and rewards company Gratifii (GTI) has received firm commitments for a $3.7 million placement.
The placement will be carried out in two phases with phase one issuing 94,372,842 shares to institutional, professional and sophisticated investors at 2.6 cents to raise $2.5 million.
Phase two, which is subject to shareholder approval, will issue 47,934,850 shares at 2.6 cents to raise a further $1.2 million.
The price of 2.6 cents represents a 7.1 per cent discount to Gratifii’s last closing price of 2.8 cents on April 8 and a 10.5 per cent discount to the five-day volume-weighted average price of 2.9 cents.
Gratifii will also be offering eligible shareholders the opportunity to participate in a share purchase plan (SPP) to raise a further $300,000.
Participants will be able to acquire up to $30,000 worth of shares which will be priced the same as the placement of 2.6 cents.
Gratifii will use the money to expand its technology platform, invest in the Mosaic enterprise platform and pay any final earn-out payments under the Neat Ideas acquisition.
“We appreciate the support from existing investors as well as new shareholders who will join Gratifii’s register,” CEO and Managing Director Iain Dunstan said.
“The additional funds received from the raising will, amongst other activities, accelerate our development of the Mosaic platform and integration into Ukheshe’s eclipse payments platform.”
Gratifii has ended the day 3.57 per cent in the red with shares trading at 2.7 cents.