Splitit Payments: Raises $90M for growth strategies
- Splitit Payments (SPT) has received firm commitments to raise $90 million through a two-tranche share placement
- The company will issue around 69.2 million shares at $1.30 each to institutional, sophisticated and professional investors via the placement
- Additionally, Splitit intends to launch a share purchase plan to raise up to $10 million
- The funds will support additional sales and marketing, as well as investing in product and technology development
- Company shares are trading 13.2 per cent higher at $1.55
- Tranche one of the placement will issue roughly 34.6 million shares to raise $45 million
