Identitii: Launches $4m rights issue

Payment security specialist Identitii (ID8) launches a $4 million rights issue to support its sales and marketing strategy and continued product development
Under the offer, shareholders can subscribe for one share for every two already held at four cents — a 20 per cent discount to ID8’s closing price before the raise was announced
CEO John Rayment and Chairman Tim Phillipps each plan to take up their full rights under the entitlement offer
The funds will go towards further progressing ID8’s “One Platform” strategy to simplify its business and speed up product delivery time-to-market
Shares in the company closed 15 per cent lower this afternoon at 3.4 cents per share