WooBoard Technologies (ASX:WOO) announces $750,000 capital raising

• WooBoard Technologies (WOO) announces a $750,000 capital raising
• The raising will consist of a two-tranche placement to sophisticated and professional investors  
• The placement will see a first tranche of over 569 million new shares issued immediately, followed by a second tranche of more than 584 million new shares issued, subject to shareholder approval
• Clee Capital has been appointed as lead manager and will receive five per cent of all funds raised under the placement as well as 100 million options, subject to approval
• WooBoard Technologies last traded at 0.1 cents on May 2

WooBoard Technologies (WOO) has announced a $750,000 capital raising.

WooBoard is a software-as-a-service (Saas) solutions provider with a focus on mental health and employee happiness. The company’s product, WooBoard, is a peer-to-peer recognition platform for employee engagement to help create a positive culture of recognition in the workplace.

The raising will consist of a two-tranche placement to sophisticated and professional investors.

The placement will see a first tranche of over 569 million new shares issued immediately, followed by a second tranche of more than 584 million new shares issued, subject to shareholder approval.

Clee Capital has been appointed as lead manager for the placement. As such, the company will receive five per cent of all funds raised under the placement, along with the issue of 50 million options and an exercise price of three cents per share.

It will also receive a further 50 million options at a price of five cents.  

WooBoard Technologies last traded at 0.1 cents on May 2.