Trade Window Holdings (NZE:TWL) launched a placement to raise about AU$5 million at AU$0.22 per share, a 20% discount to the 10-day volume-weighted average price, with capacity to accept oversubscriptions, according to a Friday filing with the New Zealand bourse.

The placement commences on Friday under a New Zealand Exchange trading halt, which is expected to remain in effect until its completion on Nov. 25, per the filing.

The issuance of shares depends on shareholder approval at a special meeting in early December, along with Australian Securities Exchange (ASX) approval for a foreign exempt listing and the company's subsequent ASX listing, the filing said.

The proceeds will be used to accelerate the development of Freight AI, strengthen the company's balance sheet, support growth in Australia, New Zealand, and other markets, and facilitate the company's foreign exempt listing on the ASX, the filing added.