DigitalX Raises AUD 3.75 Million From SPP And Top Up Placement

  • May 15, 2019 AEST
  • Team Kalkine
DigitalX Raises AUD 3.75 Million From SPP And Top Up Placement

DigitalX Limited (ASX: DCC) offers financial and technical services for the blockchain marketplace. The services provided by the company include blockchain consulting, token sale advisory and asset management. The company’s offices are located in Perth, Sydney and New York.

In an announcement today, the company notified that it has raised A$2,460,000 from its Share Purchase Plan (SPP) that has closed significantly oversubscribed. The company reported that it has also received firm commitments for a Top-Up Placement for raising an additional A$1,290,000, taking the total raising to A$3,750,000.

The shares will be issued at an issue price of A$0.0677289 per Share for its Share Purchase Plan and Top-Up Placement. The shares will be offered at a 20 per cent discount to the Volume Weighted Average Price traded on the ASX in the past five days to today’s allotment day.

The company will use the funds raised from the SPP and Top-Up Placement for the evaluation of potential investment, general working capital and acceleration opportunities.

DigitalX Limited’s Managing Director, Leigh Travers appreciated the support received from the company’s shareholders and called a SPP as an opportunity for shareholders to increase their holdings in the Company on favourable terms.

On 13th May 2019, the company issued a total of 1,895,453 fully paid ordinary shares at a price of $0.061551 per share under the first instalment of the settlement deed. The company entered into a settlement deed on 7th May 2019 when the company finalised its legal proceedings in case of a claim filed by a group of parties (for a combined amount of approximately US$1,833,077 plus damages) with regards to an investment made by those parties in an initial coin offering to which DigitalX Limited was the advisor.

The company also announced its quarterly activities report for the quarter ending 31st March 2019 on 30th April 2019. During the quarter, the company offered smart contracting services to a company located in Singapore, Bullion Asset Management for the launch of a stablecoin backed by vaulted, audited and insured gold, “XGold”. The company also provided Initial Coin Offering advisory support to its clients like Bamboo, Human Protocol and Bankorus. The company is trying to shape its offering towards Security Token Offerings (STOs).

The table below shows the quarter-wise data on the number of Security Token Offerings.

At the end of the quarter, DigitalX Limited had fund units, cash and listed digital assets valuing approximately US$5.77 million.

Stock Performance: The company’s stock settled the day’s trading at AUD 0.076 (15th May 2019), down by 14.61 per cent in comparison to the previous closed price of AUD 0.089. The stock opened lower today at AUD 0.083 on the Australian Stock Exchange. At the time of writing the report, the company’s market cap was recorded at AUD 45.46 million with about 510.79 million outstanding shares. The company’s stock has generated good returns in the last few months. The stock provided a YTD return of 71.15 per cent, 32.84 per cent in the last six months and 53.45 per cent in the past five days.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK