Family Zone: Raises $22M for business expansion
- Cybersecurity company Family Zone (FZO) is planning to raise up to $22 million through a placement and share purchase plan
- While it has received firm commitments for the $20 million placement, how much it will raise under the share purchase plan isn’t yet known
- More than 45.4 million shares will be issued to investors at 44 cents — a 4.3 per cent discount to the last closing price on October 21
- Over the June and September quarters, Family Zone achieved record sales and ongoing growth
- But it claims the extra funding will support its growth strategy and expansion into new markets
- Company shares are trading 1.09 per cent lower for 45.5 cents
