Swoop Completes $41m placement
- Network services provider Swoop (SWP) successfully completes its oversubscribed $41 million placement
- The funds were raised through the issue of approximately 22 million shares to institutional, sophisticated and professional investors at $1.85
- The company will now undertake a share purchase plan to raise a further $5 million with participants able to subscribe for up to $10,000 worth of shares
- The money from both the placement and SPP will be used to fund to company’s acquisition of connectivity provider, Countrytell Holdings
- The company ends the day 8.61 per cent in the green with shares trading at $2.27
