Adslot announces $4.0M placement
I’m pleased to advise that the Company has completed a $4.0M placement to sophisticated and institutional investors today.
The full details of the placement are contained in the ASX announcement released this morning, and available here.
This funding will allow the Company to continue its investment in Adslot Media in the US market, where we are making strong progress now, and expect to see that progress reflected in our trading numbers (bookings on platform) and financial results over the coming quarters.
In addition to the Placement announced today, directors of the Company and associated parties also purchased approx. $1M worth of shares from one institutional investor exiting the register. This removes a pre-existing overhang in the market, which will allow the share price to breathe moving forward.
We still have much work to do, but we move ahead with growing confidence based on the growing pipeline and quality of discussions we are having, particularly in the US market.
In closing, I would like to thank all of you who participated in the Placement – your support is greatly appreciated.
Wishing you a great day, and best wishes from San Francisco.
Founder & Executive Chairman