- 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
