DUG Technology Raises up to $20m for business growth
- DUG Technology (DUG) is looking to raise up to $20 million through a placement and share purchase plan
- The company is raising $15 million through a two-tranche placement to sophisticated and institutional investors at an issue price of 90 cents
- The tech stock will issue around 16.7 million shares to new and existing sophisticated and institutional investors at 90 cents per share
- The tech stock hopes to raise another $5 million through a share purchase plan which will be open from September 10 until October 13
- DUG plans to use the money for business development, building a global sales team, computer equipment, as well as working capital and debt reduction
- Company shares are down 5.83 per cent in the red to trade at 97 cents
