- ReadyTech (RDY) has completed a fully underwritten institutional placement to raise roughly $25 million
- The funds will raised through the issue of 13.3 million new shares at $1.88
- ReadyTech will also use the money to fund the potential acquisition of software provider Open Office and its key business partner McGirr
- Then the company will be potentially undertaking a share purchase plan to raise an addition $4 million
- If the plan takes place, eligible shareholders will be able to subscribe for up to $10,00 worth of shares, subject to eligibility criteria
- After emerging from a trading halt, shares in ReadyTech are down 1.50 per cent and trading for $1.97 cents
