- Family photo sharing app Tinybeans Group (TNY) enters trading halt as it plans an upcoming capital raise
- Currently, it is not known It is currently not known to the market how much the company is aiming to raise or what for
- Company shares will be paused until Thursday, November 18, or when more details about the raise is released to the market
- On the market, Tinybeans last traded at 63.5 cents per share
Tinybeans Group (TNY) has entered into a trading halt as it plans an upcoming capital raise.
It is currently not known to the market how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Thursday, November 18, or when more details about the raise are released to the market.
Tinybeans is a family photo-sharing app that helps parents capture and organises their children’s life stories using photos, video, and written messages.
Last month, the company released its first-quarter report for the 2022 financial year.
Over the period, revenue hit a record US$2.5 million (A$3.3 million), up 42 per cent year-on-year, including advertising revenue hitting a record US$2.2 million (A$2.9 million), up 49 per cent.
During the first quarter, Tinybeans launched Beanstalk, a new paid subscription offering and early results are positive with download to paid conversion at 14 per cent.
On the market, Tinybeans last traded at 63.5 cents per share.