Family Zone Cyber Safety: Secures $20m to strengthen balance sheet

Family Zone Cyber Safety Secures $20m to strengthen balance sheet

• Family Zone Cyber Safety (FZO) taps investors for $20 million via a placement to strengthen its balance sheet
• The new shares will be issued at 18 cents each, representing a 14.3 per cent discount to FZO’s last closing price and a 1.9 per cent discount to its five-day VWAP
• The offer will be completed via two tranches, with the first seeing roughly 105 million new securities issued to sophisticated and professional investors to raise $19 million
• The second tranche will be a placement of around six million new shares to FZO directors and institutional investors for $925,000, subject to shareholder approval
• Family Zone CyberSafety is down 8.33 per cent, trading at 19 cents at 1:52 pm AEDT