- BidEnergy (BID) has received firm commitments to raise $15 million via a fully underwritten institutional placement
- Roughly 14 million fully-paid ordinary shares will issued to institutional and sophisticated investors at $1.07
- This price represents an 8.1 per cent discount to the 10-day volume-weighted average price
- BID will acquire Optima for £5.4 million (around A$9.77 million) with £3.2 million (around A$5.79 million) to paid in cash upfront
- BidEnergy will use the money to fund the acquisition of U.K.-based energy software company, Optima Energy Management
- Shares in BidEnergy are up 5.17 per cent on the market and are trading at $1.22
