Total Brain Raises $14 million at $0.046 pe Share

  • Nov 08, 2019 AEDT
  • Team Kalkine

Total Brain Limited (ASX: TTB) secured the commitment from sophisticated and institutional investors to raise $14 million at an issue price of $0.046 per share through:

  • A private placement via the issue of 175 million new shares out of TTB’s placement capacity under ASX Listing Rules 7.1 for 100 million shares and under 7.1A for 75 million shares for $8.1 million.
  • A conditional placement via the issue of 129 million new shares for the remaining $5.9 million (subject to shareholder approval)
  • A conditional placement which is on the same terms as the Capacity Placement is to shareholders of record and includes Director participation

At AEST 1:29 PM, the stock was trading higher at $0.058, up by 28.8%.


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