Netlinkz (ASX:NET) aims to raise up to $15M

• Cloud network solutions business Netlinkz (NET) is planning to raise up to $15 million in an entitlement offer
• Under the offer, the company is offering shareholders one new share for every 4.2 shares owned for 2.5 cents each, a 13.8 per cent discount to the last closing price
• Funds from the raise will be used to expand capital investment in China, general working capital and repayment of outstanding convertible notes
• The company entered a trading halt today ahead of the entitlement offer.
• Under the halt, company shares will be paused until Thursday, May 13, or when it completes the capital raise
• On the market, Netlinkz last traded at 2.9 cents per share on May 10

Netlinkz (NET) is planning to raise up to $15 million in an entitlement offer.

Under the plan, the company is offering one new share for every 4.2 shares owned for 2.5 cents each, a 13.8 per cent discount to the last closing price.

Funds from the raise will be used to expand capital investment in China, general working capital and repayment of outstanding convertible notes.

CEO and Managing Director, James Tsiolis, is planning to take up his full entitlement in the offer.

NetLinkz is an Australia-based company, which offers a technology that provides a software solution connecting sites to any device.

The company entered a trading halt today ahead of the entitlement offer.

Under the halt, company shares will be paused until Thursday, May 13, or when it completes the capital raise.

On the market, Netlinkz last traded at 2.9 cents per share on May 10.