- QuickFee (QFE) raises $358,000 from its share purchase plan (SPP) to help fund the implementation of its strategies to achieve profitability
- A total of 5.1 million new shares will be issued at a price of 7 cents each, representing a 5 per cent discount to the five-day volume-weighted average price to June 15
- Combined with the proceeds from a placement completed last month, QuickFee raised a total of $4.36 million
- The company will use these funds to target profitability by June 2023, leveraging its proprietary technology stack
- Shares in QuickFee were steady at 7.2 cents each as of 2:58 pm AEST
Payment solutions company QuickFee (QFE) has raised $358,000 from its share purchase plan (SPP) to help fund the implementation of its strategies to achieve profitability.
A total of 5.1 million new shares will be issued at a price of 7 cents each, representing a 5 per cent discount to the five-day volume-weighted average price to Wednesday, June 15.
Combined with the proceeds from the placement completed last month, QuickFee raised a total of $4.36 million.
The company will use the funds to target profitability by June 2023, leveraging its proprietary technology stack.
CEO Eric Lookhoff said the support from investors was a strong endorsement of the company.
“We are confident that with continued focus on executing our strategies, we will achieve our accelerated path to profitability by the end of FY23 well within our existing cash resources and borrowing facilities,” he said.
Shares in QuickFee were steady at 7.2 cents each as of 2:58 pm AEST.