Openn Negotiation (ASX:OPN), an Australian property technology company, has received commitments to raise $3.65 million through the issue of shares to sophisticated and professional investors.
The funds will be used to progress the expansion into North America, refine the Company's software platform, and cover the costs of the Placement and general working capital.
Investors in the Placement will also receive a free attaching option for every two (2) New Shares issued to them, with an exercise price of $0.10 and expiring 2 years from the date of issue.
The company also has 223.8 million ordinary shares, 19.4 million options, and 21.4 million performance rights with a market capitalisation of $19.24 million.
Following the announcement, shares of Openn Negotiation (ASX:OPN) were unchanged at $0.086.