Openn Negotiation (ASX:OPN) - Managing Director, Peter Gibbons
Managing Director, Peter Gibbons
Source: Openn
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Property technology company Openn Negotiation (OPN) receives firm commitments to raise $3 million via a share placement
  • The money will be raised through the issue of 20 million shares to sophisticated and professional investors at a price of 15 cents
  • Openn will also undertake a share purchase plan to raise up to $2 million with eligible shareholders able to apply for up to $30,000 worth of shares
  • The money will be used to fund OPN’s expansion in North America, particularly building a North American operational team, refining its software platform and finalising partner integrations
  • Openn ends the day 8.82 per cent in the red with shares trading at 15.5 cents

Property technology company Openn Negotiation (OPN) has received firm commitments to raise $3 million via a share placement.

The money will be raised through the issue of 20 million shares to sophisticated and professional investors at a price of 15 cents.

This price represents an 11.8 per cent discount to Openn’s close on June 29 of 17 cents.

Openn will also undertake a share purchase plan (SPP) to raise up to $2 million.

Eligible shareholders will have the opportunity to apply for up to $30,000 worth of shares which will be price the same as the placement of 15 cents.

The plan is expected to open on July 11 and close on August 5 with shares to be issued on August 8.

Openn will use the money from the placement and SPP to fund its expansion in North America, particularly building a North American operational team, refining its software platform and finalising partner integrations.

“The capital raising assists in assuring the timely delivery of the multiple pilot programs that are being undertaken across Canada and the United States, to ensure Openn is well funded through to live transactions and commercial roll-out in North America,” Managing Director Peter Gibbons said.

Openn has ended the day 8.82 per cent in the red with shares trading at 15.5 cents.

OPN by the numbers
More From The Market Online
Tariff concept

Week 14 Wrap: Tariffs tank markets as expected; will Rio Tinto ditch LSE?; EU ETFs soar

Let's start with the obvious one: Trump's wave of "Liberation Day" tariffs have finally come, and…
The Market Online Video

HotCopper Highlights for Week 14 – Mesoblast, Cettire, Neurizon & more!

Good Afternoon and welcome to this edition of HotCopper Highlights, I’m Jonathon Davidson. Let's get into…
Flag of Spain

Elementos publishes robust DFS for Oropesa tin project

Elementos Ltd has seen its shares rise more than 2% following its release of a definitive…
The Market Online Video

Friday’s HotCopper Trends: Mesoblast dodges tariffs, Orthocell’s FDA tick | April 4, 2025

The ASX has been down 1.5% at 7,739 points this morning.