Monetary companies regulatory tech outfit Kyckr was available in the market for recent capital on Friday to fund the growth of its gross sales and account administration groups.
The corporate was on the hunt for $Eight million by a two tranche placement and had tapped Bell Potter to provide it a hand.
Tranche one of many placement would elevate $4.7 million and tranche two – which was topic to shareholder approval – would snare $3.Three million, in accordance with phrases despatched to funds.
The provide was priced at 8¢ a share, which represented a 20 per cent low cost to Kyckr’s 10¢ final shut and a 17.7 per cent low cost to the ten-day VWAP.
Funds had been informed the cash raised can be used to develop Kyckr’s gross sales and account administration groups, in addition to fund advertising campaigns.
Bell Potter was calling for bids into the provide by noon on Monday.
Kyckr listed on the ASX in direction of the top of 2016 and has a collection of KYC (know your buyer) merchandise which assist the likes of funds corporations acquire larger visibility over their buyer books.