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    Family Zone Cyber Safety (ASX:FZO) successfully completes $20M placement

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    Family Zone Cyber Safety (ASX:FZO) has successfully completed a placement of new fully paid ordinary shares, raising a total of approximately $20M.

    The company says the capital raising will allow it to be unequivocally funded through cash flow break-even to profitability, with a buffer and significant flexibility.

    It also says it will strengthen the balance sheet, as well as be used for working capital, and to repay a portion of the existing working capital facility.

    The placement was offered at a 1.9% discount to the 5-day Volume Weighted Average Price up to and including 6 March 2023, and the company is now in the position to attract conventional debt funding, with a conclusion expected this calendar year.

     

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