- Fintech company Identitii (ID8) has received binding commitments to raise $4 million via an oversubscribed placement
- Roughly 27.5 million shares will now be issued to sophisticated and institutional investors at 14.6 cents
- The company has also announced it will undertake a share purchase plan to raise an additional $2 million
- Eligible shareholders will be able to subscribe for up to $30,000 worth of shares at 14.6 cents
- Identitii will use the money from both the placement and SPP to speed-up its sales, marketing, and product activities
- Shares in ID8 have dropped 10 percent on the market, currently trading at 18 cents
