- Recruitment company Hiremii (HMI) receives firm commitments to undertake an $800,000 two-tranche placement
- More than 117 million shares will be issued to institutional, professional and sophisticated investors at 4.4 cents each
- Hiremii will also be undertaking a share purchase plan (SPP) to raise a further $800,000 with shareholders able to subscribe for up to $30,000 worth of shares
- The money from both the placement and SPP will be used to attract and acquire new clients, further develop technology, and expand into key new markets
- Hiremii is down 3.92 per cent on the market with shares trading at 4.9 cents each
Recruitment company Hiremii (HMI) has received firm commitments to undertake an $800,000 two-tranche placement.
The company entered a trading halt on January 6 but did not disclose how much it intended to raise or what it would use the funds for once received.
Under phase one, just over 114.3 million shares will be issued to institutional, professional and sophisticated investors at 4.4 cents each to raise $640,333.
Subject to shareholder approval, a further 3.57 million shares will be issued at the same price to raise $159,667.
The issue price of 4.4 cents represents a 12 per cent discount to the five-day volume-weighted average price of 5 cents per share.
Hiremii will also be undertaking a share purchase plan (SPP) to raise a further $800,000 with the ability to accept over subscriptions or scale back applications.
Eligible shareholders will be able to acquire up to $30,000 worth of shares priced at 4.5 cents.
The plan will open on January 19 and close on February 16, with the new shares to be allocated on February 23 and issued on February 24.
Hiremii will use the money from both the placement and SPP to attract and acquire new clients, further develop its technology, and expand into key new markets.
“Following the recent acquisition of Inverse Group, the company now has the opportunity to offer Hiremii’s unique AI-driven technology recruitment platform to a much larger client base, providing quicker and more cost-effective recruitment services to them,” Managing Director Andrew Hornby said.
“The funds being raised provide us with the additional capital to execute our growth plans and rapidly scale the services being offered to our clients.”
Hiremii was down 3.92 per cent on the market with shares trading at 4.9 cents each as of 1:51 pm AEDT.