Smartpay Holdings Ltd (NZX:SPY) has announced raising AUD 13 million through institutional, sophisticated and professional investors placement. The placement included 30,952,381 new fully paid ordinary shares. Each ordinary share is offered at an issue price of AUD 0.42.
The lead manager to the placement is the CCZ Statton Equities. The placement is scheduled for settlement on Wednesday 27 May 2020 and allotment of the shares will be happening on Thursday 28 May 2020.
Furthermore, the company is all set to undertake a Share Purchase Plan (SPP). SPY has invited all existing shareholders to subscribe for new shares.