Adslot Announces $6.4M Share Placement
I’m pleased to announce that Adslot has successfully closed a $6.4M share placement to new and existing institutional investors.
The Company experienced strong demand from both new and existing institutional investors, as well as strong demand from existing shareholders and directors of the Company.
These funds will be used to accelerate activation of trading from Havas Media Group and other parties; allow the Company to continue to pursue and close MSA agreements with other agency holding companies, publishers and data partners; and accelerate onboarding and integration with those partners.
Key Details of Placement:
- Issue of 256,000,000shares at $0.025 per share;
- Raising $6.4Mbefore costs;
- Issue price reflects a 9% discountto 30-day VWAP, and 13.8% discountto last closing price;
- Placement in two tranches:
- Tranche 1:$5.65M placed to sophisticated and institutional investors;
- Tranche 2:$0.75M will be placed to related parties of directors (subject to shareholder approval).
The Company is now set for a very exciting year ahead in calendar 2020.
Founder & Executive Chairman