- YPB Group (YPB) was up as much as 25 per cent today after revealing it had received firm commitments for a $750,000 placement
- To raise the funds, 250 million fully paid ordinary shares will be issued to institutional, professional and sophisticated investors at 0.3 cents
- Participants will also receive one free-attaching option for every share subscribed for, exercisable at 0.5 cents on or before February 23, 2022
- YPB will use the funds to develop its Motif Micro technology as well as undertake business development and marketing
- Motif Micro is the company’s multi-patented, smartphone-readable anti-counterfeit technology, which is invisible to the eye
- It can read authentication marks on both flat and curved surfaces, making it accessible to a wide range of products
- Shares in YPB are still up a healthy 25 per cent and are trading at 0.3 cents
YPB Group (YPB) was up as much as 25 per cent today after revealing it had received firm commitments for a $750,000 placement.
To raise the funds, 250 million fully paid ordinary shares will be issued to institutional, professional and sophisticated investors at 0.3 cents.
Participants will also receive one free attaching option for every share subscribed for, exercisable at 0.5 cents on or before February 23, 2022.
EverBlu Capital will act as corporate adviser and lead manger and will receive a six per cent fee on the total amount raised under the placement.
In addition, it can also receive more than 20.7 million shares and more than 57.6 million options.
YPB will use the funds to develop its Motif Micro technology as well as undertake business development and marketing.
Launched in 2018, Motif Micro is YPB’s multi-patented, high security, smartphone-readable, anti-counterfeit technology, which is and invisible to the eye.
It can read authentication marks on both flat and curved surfaces, making it accessible to a wide range of products.
Shares in YPB are still up a healthy 25 per cent, trading at 0.3 cents at 2:02 pm AEDT.