Technology company IXUP (ASX:IXU) is set to raise AU$1.9 million via the placement of 123.2 million shares priced at AU$0.015 apiece, according to a Thursday filing with the Australian Securities Exchange.
Participants will also get one free attached unlisted option for every two shares subscribed for the placement exercisable at AU$0.02 each expiring 12 months from issue.
Proceeds will be used for pipeline development, business transformation, and commercial capabilities development, as well as general working capital and placement costs, the filing said.
Canaccord Genuity was the lead manager for the placement.
IXUP shares declined 17% in morning trade.
Price (AUD): $0.02, Change: $-0.0030, Percent Change: -16.67%
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