Identitii Launches $4m rights issue
- Payment security specialist Identitii (ID8) launches a $4 million rights issue to support its sales and marketing strategy and continued product development
- Under the offer, shareholders can subscribe for one share for every two already held at four cents — a 20 per cent discount to ID8’s closing price before the raise was announced
- CEO John Rayment and Chairman Tim Phillipps each plan to take up their full rights under the entitlement offer
- The funds will go towards further progressing ID8’s “One Platform” strategy to simplify its business and speed up product delivery time-to-market
- Shares in the company closed 15 per cent lower this afternoon at 3.4 cents per share
