X2M Connect: Completes $3.97m entitlement offer

X2M Connect Completes $3.97m entitlement offer

• X2M Connect (X2M) completes its $3.97 million entitlement offer
• The institutional component raised $2.26 million with a number of shareholders taking up their full entitlement
• The retail offer raised $1.33 million and the company also received oversubscribed firm commitments of $380,000 from existing and new shareholders
• All new shares and options issued under the offer were issued on August 19, and are expected to commence trading next week
• Shares in X2M are down 10.5 per cent, trading at 8.5 cents as of 1:08 pm AEST