Norwood Systems: Raise $640,000 for telco services platforms

Norwood Systems Raise $640,000 for telco services platforms

• Norwood Systems (NOR) aims to raise nearly $640,000 through a fully underwritten entitlement offer to expand two of its core telco services platforms
• The funds will be directed towards business development, research and development, and general working capital
• One new share will be offered for every seven held at a price of 1.5 cents each
• Each new share will receive one attaching option, exercisable at 2.4 cents and expiring at the end of next year
• Shares were trading 4 per cent higher at 1.3 cents each