Pathkey.AI Raises Nearly AU$3 Million Via Strategic Placement; Shares Up 29%

MT Newswires Live

08/12

Pathkey.AI (ASX:PKY) received firm commitments to raise AU$2.8 million before costs through a strategic placement to institutional and sophisticated investors, cornerstoned by Sam Weiss, who has also been appointed as a strategic adviser to the chief executive officer, according to a Wednesday Australian bourse filing.

The company said Weiss served as non-executive chairman of Altium from 2007 to 2024.

The company added that a total of 100 million new fully paid ordinary shares will be issued at AU$0.028 per share, settling on Aug. 19 and expected to be allotted on or around Aug. 20.

As part of his engagement, Weiss will be issued 40 million performance rights vesting in equal tranches after six, 12, 24 and 36 months of service, the filing added.

The company's shares rose 29% in recent Wednesday trade.

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