FOS Capital (ASX:FOS) completed its acquisition of Aldridge Traffic Systems from Traffic Technologies (ASX:TTI) and a AU$3.7 million share placement, according to a Tuesday filing with the Australian bourse.
The company issued over 12.3 million new fully paid ordinary shares at an issue price of AU$0.3 each, which will commence trading on June 24, the filing said.
Funds from the placement were used to acquire Aldridge Traffic Systems, support working capital, and cover placement costs, the filing added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.