Tuesday, February 7, 2023

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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

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