Listed payments tech biz Splitit in $8m cash call

ASX-listed Splitit Payments was asking investors to tip in $8 million on Friday to stock up its balance sheet and to spend on its product.The placement was priced at 17.5¢ a share, a 14.6 per cent discount to the last close and 24.1 per cent lower than the 15-day volume weighted average price. It included a one-for-two option with a 20¢ strike price and two-and-half-year expiry that the company intended to list.

The term sheet said it would use the raise’s proceeds for product enhancements and development, general working capital and to strengthen the balance sheet to support large merchant and partner acquisition. Canaccord Genuity was the lead manager and called for bids by 5pm Friday. Splitit had a $30.9 million market capitalisation before the raise.

co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.

Danger Danger Danger Warning Warning Warning

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASX to rise; Wall St jumps, Wesfarmers’ profit slipsFonterra lowers milk price forecast. Nasdaq jumps 1.67pc, as Wall Street closed higher ahead of a Jackson Hole speech by Fed chair Powell. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX to lift as markets wait for Powell speechAustralian shares are set to open higher as an uncertain week continues on Wall Street.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX to lift; Results ahead: Qantas, Woolworths, WhitehavenASX to lift as markets wait for Powell speech; Slow session on Wall Street overnight, S&P 500 gains 0.2pc; WTI $US95. One of the busiest earnings season days with over 25 companies reporting; Follow for updates.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX to lift as markets wait for Powell speechAustralian shares are set to open higher as an uncertain week continues on Wall Street.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX to open flat as Jackson Hole meeting loomsAustralian shares are set to open slightly higher as Wall Street continues to tread water despite better-than-expected joblessness figures and economic data.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX to rise, Wall Street snaps three-day losing streakAustralian shares are set to lift after US markets recovered from a three-day losing streak — sparked by signs of economic slowdown in China, Europe's energy crisis and concerns the US Federal Reserve may continue to hike interest rates aggressively. The whole thing is designed to crash.
Source: abcnews - 🏆 5. / 83 Read more »