An enterprise mobility software provider, Bigtincan Holdings Limited (ASX:BTH) revealed equity raising of up to $40 million including-
- an institutional placement of $35 millions
- a non-underwritten share purchase plan (SPP) to raise up to $5 million
Moreover, the company disclosed successful commitments received for its $35 million institutional placement of new fully paid ordinary shares at a per New Share issue price of $0.67.
Bigtincan highlighted that Proceeds of the equity raising would be used to speed up key strategic priorities, develop technology investments, take benefit of SaaS market tailwinds and utilise strong balance sheet for any M&A opportunities.