FinTechFunding

Beam Communications: Completes $5M placement

  • Beam Communications (BCC) has completed a share placement and successfully raised $5 million
  • The company decided to increase the initial target of $2.5M after the lead manager, Peak Asset Management, received more than $14M in bids
  • Further, participants received one option for every three new shares subscribed for
  • The option will have an exercise price of 50 cents with expiry on December 31, 2022
  • Beam will use the funds to expand its global messaging device ZOLEO into new markets in Asia and Europe and develop new Iridium Certus devices
  • After emerging from a trading halt, Beam is up a steady 11.3 per cent with shares trading for 34.5 cents each
Previous article
Morgan Stanley: Acquire Eaton Vance
Next article
Lifespot Health: Appoints Matthew Golden as CEO
Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

You May Also Like

FinTech

Danske Bank Restricts Customer Data Access Following Address Leak

Danske Bank acts after sensitive customer details exposed to payment recipients.Highlights: Danske Bank reveals a data leak of...
FinTech

Fintech Veteran Launches Primitive AI Agent Operating System

A groundbreaking platform for AI-driven financial services is unveiled.Highlights: Primitive AI, led by a fintech veteran, introduces a...
FinTech

Visa Launches Validator Node on Tempo Blockchain, Strengthening Payments Infrastructure

New validator node aims to boost transaction efficiency for Visa services.Highlights: Visa launches a new validator node on...
FinTech

Amex Launches Agentic Commerce Development Kit to Strengthen Merchant Services

New toolkit aims to enhance payment solutions for businesses.Highlights: Amex unveils Agentic Commerce Development Kit for merchants.The toolkit...