- Data intelligence and solutions company Invigor Group (IVO) is set to undertake an $8 million placement
- The placement will be managed by PAC Partners and will be made available to institutional and professional investors
- This placement will also be accompanied by a $10.7 million debt/equity swap
- On completion of the placement, Invigor will have positive net tangible assets and working capital after its $15.8 million debt is paid off
- Shares in Invigor last traded at 25 cents apiece
Data intelligence and solutions company Invigor Group (IVO) is set to undertake an $8 million placement.
The placement will be managed by PAC Partners and will be made available to institutional and professional investors.
This placement will also be accompanied by a $10.7 million debt/equity swap.
On completion of the placement, Invigor will have positive net tangible assets (NTA) and working capital after its $15.8 million debt is paid off.
Furthermore, Invigor has raised $500,000 from a sophisticated investor via a convertible note offering.
The company has raised a total of $632,000 under the convertible note offer.
CEO Rohan Dhowan commented on the capital raising.
“Invigor’s sales momentum continues to be strong. We are very excited to have PAC Partners lend their support to this capital raise,” Mr Dhowan said.
“This step will allow the company to seek approval from the ASX for the resumption of trading, and with the funds providing a strong and recapitalised balance sheet.”
“This will also provide a positive platform to grow revenues and create value for all shareholders.”
Shares in Invigor last traded at 25 cents apiece.