FinTechFunding

Splitit: Closes $10M SPP with $89.5M in applications

  • Splitit (SPT) has closed its share purchase plan (SPP) heavily oversubscribed, with applications totalling almost $90 million
  • The company had only been planning to raise $10M via the SPP, meaning it will have to scale back the applications
  • Over 7M shares will issued under the SPP later this month, with shares to added to a quotation from September 25
  • The CEO of Splitit said the company was overwhelmed and delighted with the interest shown by shareholders
  • Additionally, Splitit also raised $90 million via a recent placement, to give the company $100 million in additional capital
  • Shares in Splitit ended the day trading up 5.48 per cent, at $1.64
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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