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All about Wooboard Technologies' (ASX:WOO) recent AU$750K placement - Kalkine Media

November 13, 2022 05:45 PM AEDT | By Manisha
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Highlights

  • Wooboard Technologies is an Australia-based SaaS solutions company revolutionising employee peer recognition.
  • The ASX-listed company recently announced a capital raising program of approximately AU$750,000 via a two-tranche placement.
  • The placement will be executed through the issue of new shares at a price of AU$0.00065 per share.

Australia-based software-as-a-service solutions (SaaS) company Wooboard Technologies Limited (ASX:WOO) recently announced a capital raising program to raise around AU$750,000. The company is undertaking a two-tranche placement involving the issue of new shares at an issue price of AU$0.00065 per share.

The ASX-listed company is driven by its goal to revolutionising employee peer recognition. The company is focused on developing how customer loyalty and employee incentives are created, rewarded, and managed. Its employee experience technology platform, Wooboard, uses a gamified, social cloud-based platform to allow employees to send recognition and share updates instantly.

Sneak peek into WOO’s capital raising program


Image Source: © Outline205 | Megapixl.com

The placement will be executed in two tranches. Under the first tranche, the company plans to issue 569,230,774 new shares immediately. The first tranche of the placement has been conducted pursuant to WOO’s existing placement capacity under ASX Listing Rule 7.1.

The second tranche entailing the issue of 584,615,387 new shares needs the company's shareholder approval at its upcoming Annual General Meeting.

For the placement, Clee Capital Pty Ltd has been appointed as the lead manager. The fees payable to Clee Capital (excluding GST) include 5% of all funds raised under the placement and the issue of 50 million options at an exercise price of AU$0.003. Further, 50 million options will be issued at an exercise price of AU$0.005. However, the option issue is subject to getting shareholder approval.

To know about Wooboard Technologies’ reseller agreement with Slik Pro Corp, click here.

 WOO shares were trading at AU$0.001 midday on 14 November 2022.  


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