- Investment business Thorney Technologies (TEK) has received firm commitments to undertake a $37 million capital raise
- These funds will raised through a $27 million placement and a $10 million non-renounceable entitlement offer
- Under the placement, more than 77 million shares will issued to institutional, professional, and sophisticated investors at 35 cents
- The entitlement offer will give eligible shareholders the opportunity to subscribe for one new share for every nine held
- Thorney will use the funds to invest in technology-related companies, increase its working capital, and pay costs associated with the placement, and offer
- Company shares are up 5.88 per cent at market close, trading for 36 cents each
