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HomeFinTech9 Spokes International: Completes first tranche of $10M placement

9 Spokes International: Completes first tranche of $10M placement

Date:

  • Business analytics company 9 Spokes International has issued $5.9M in shares to complete the first tranche of a $10M placement
  • Then the placement supported by existing institutional shareholders and a small number of new key Australian-based institutional investors
  • Shares issued at 3.6 cents each — a 6.9 per cent discount to the 10-day volume-weighted average price
  • Once the full $10M raised, 9 Spokes anticipates it’ll be fully funded for two years, with the cash raised earmarked for key development objectives
  • The company also aims to roll out its 9spokes.com platform globally and to develop international banking and strategic partnerships
  • 9 Spokes International is down 5.3 per cent to 3.6 cents

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