Mach7 Technologies Limited (ASX:M7T) announced the completion of the institutional placement as well as the institutional entitlement offer by raising $23.4 million. Some highlights of the completion include:
- The Placement and Institutional Entitlement Offer raised $3.7 million and $19.7 million respectively, a total of $23.4 million.
- The Company will progress the planned Retail Entitlement Offer to raise a further $11.4 million, taking the total capital raise to $34.8 million
- All 51.2 million shares will be issued at $0.68 per share and total funds of $34.8 million will be used to fund the purchase of Client Outlook Inc
Mach7 is continuing a market disruptive, high growth journey, which has now been enhanced by its acquisition of Client Outlook.