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HomeFinTechSwoop: Completes $41m placement

Swoop: Completes $41m placement

Date:

Swoop Completes $41m placement

  • Network services provider Swoop (SWP) successfully completes its oversubscribed $41 million placement
  • The funds were raised through the issue of approximately 22 million shares to institutional, sophisticated and professional investors at $1.85
  • The company will now undertake a share purchase plan to raise a further $5 million with participants able to subscribe for up to $10,000 worth of shares
  • The money from both the placement and SPP will be used to fund to company’s acquisition of connectivity provider, Countrytell Holdings
  • The company ends the day 8.61 per cent in the green with shares trading at $2.27

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