FinTechFunding

Nearmap: Opens $20 million share purchase plan

  • Nearmap (NEA) looks set to raise even more capital after it opened its $20M share purchase plan (SPP) to eligible shareholders
  • The company hopes the SPP will bring in an additional $20 M in capital, which it plans to put towards accelerating its growth strategy
  • Then the digital mapping company recently netted over $70 million via an institutional placement to investors
  • Under the SPP, shareholders are invited to subscribe for $30,000 worth of new shares — priced at $2.77 each
  • The plan isn’t underwritten and at this stage is expected to close at the end of day on Monday, October 5
  • Shares in NEA are trading down 1.62 per cent at $2.43 each
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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