- Simble Solutions (SIS) launches a $1.5 million placement at 2.5 cents per share to sophisticated and institutional investors
- Simble entered a trading halt this morning and while most of the details have been released, it isn’t clear what the money will be used for
- The software-as-a-service (SaaS) company says the placement comes with one free-attaching option for every two shares subscribed for and these are exercisable at four cents each within a three-year period
- So far, the placement has received support from clients of Fresh Equities and L39 Capital, as well as one of Simble’s directors who intends to participate
- Company shares last traded at 2.9 cents on Friday, July 23
Simble Solutions (SIS) has launched a $1.5 million placement to sophisticated and institutional investors.
The software-as-a-service (SaaS) company entered a trading halt this morning regarding a pending placement. Most of the details were announced soon afterwards.
Simble will raise $1.5 million at an offer price of 2.5 cents per share. New and existing investors will also receive one free-attaching option for every two shares subscribed for under the placement, exercisable at four cents with a three-year term. However this is subject to shareholder approval.
So far the placement has received support from clients of Fresh Equities and L39 Capital, who submitted a firm cornerstone bid. Additionally, one of Simble’s directors has expressed their intention to participate in the placement.
Simble Solutions appointed Fresh Equities and L39 Capital to coordinate the bookbuild.
At this stage, the company hasn’t disclosed what the money will be used for.
Simble focuses on energy intelligence and improving business productivity. Its energy business unit includes the SimbleSense and CarbonView software platforms.
The SimbleSense solution allows businesses to visualise, control and monetise their energy systems. CarbonView is a platform that allows companies to measure and reduce their carbon emissions.
The company expects to come out of the trading halt shortly. Its shares last traded at 2.9 cents on Friday, July 23.