Full $5m raised

Very bullish news with the offer filled to capacity, will be plenty who missed out wanting to get in early I am thinking.

Capital Raising Closes

Soil Sub Technologies Limited (to be renamed “Pointerra Limited”) (ASX: SOI) (“Soil Sub” or “The Company”) has successfully closed the offer of shares under the Prospectus dated 28 April 2016 and the Supplementary Prospectus dated 13 May 2016 (Offer) in order to progress its acquisition of Pointerra Pty Ltd (Pointerra).

The Offer was well supported allowing the Company to raise the maximum of $5 million permitted under the Offer.
Pointerra Managing Director Ian Olson said the level of interest in the Offer reflected the market’s confidence in Pointerra’s technology and business model.

“We are very happy with the support and are looking forward to the Company completing the acquisition of Pointerra and continuing to work towards our vision of becoming a global repository for point cloud datasets, reshaping the way organisations think about their spatial data and also the way in which the geospatial industry collects and shares 3D point cloud data” Mr Olson said.

Perth-based Pointerra is developing an end-to-end Data as a Service solution for managing, distributing and visualising massive 3D point cloud data sets.

By converting raw point data into Pointerra’s searchable and highly efficient compressed format, new ways of interacting with massive point cloud datasets will become possible.