Felix Group raises $5.5M via institutional placement
- Felix Group secured firm commitments to raise $5.5 million through a two-tranche institutional placement.
- The placement was priced at $0.038 per share, representing an 18.75% premium to the company's previous closing price.
- Capital raised will fund artificial intelligence development, vendor network activation, and platform expansion.
Felix Group (ASX:FLX) secured firm commitments to raise $5.5 million through a two-tranche institutional placement.
The placement was priced at $0.038 per share, representing an 18.75% premium to the company's previous closing price.
The company will issue approximately 145.9 million new ordinary shares across the two tranches.
Tranche one will raise $2.6 million, while tranche 2 will raise $2.9 million pending shareholder approval in November.
Company directors Dominic O'Hanlon, George Rolleston, and Robert Phillpot subscribed for $1.2 million in tranche two shares.
In addition, eligible shareholders in Australia and New Zealand can participate in a share purchase plan targeting up to $1 million.
Following the announcement, the Felix Group Holdings share price was unchanged at $0.032.
