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- Registry Direct (RD1) has completed a heavily supported $1.4 million placement
- Just over 52.3 million shares will be issued at 2.7 cents each — which represents a discount of 15.9 per cent to the 30 day volume weighted average price (VWAP)
- The company says the indicative dates for settlement and allotment of the shares are December 9 and December 10 respectively
- Following completion of the placement the company will have $2.7 million in cash to spend on various projects
- Company shares are down 17.1 per cent trading at 2.9 cents each
Registry Direct (RD1) has completed a heavily supported $1.4 million placement.
Around 52.3 million shares will be issued at a price of 2.7 cents — representing a discount of 15.9 per cent over the 30 day volume weighted average price (VWAP).
The indicative dates for settlement and allotment of the shares are December 9 and December 10 respectively.
Post placement the company has projected a before offer-costs cash balance of $2.7 million.
The comapny says funds raised under the placement will be deployed to increase revenue from the company’s service business as well as to grow client platform acquisitions through the development team.
It also aims to expand the range of businesses the company can service and to integrate into other platforms to significantly increase the ease of adoption and market awareness.
Shares were down 17.1 per cent trading at 2.9 cents at 12.24 pm AEDT.
