I wonder if they will announce signing a US bank at the same...

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TwinTurboCelica

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25/07/17

11:36

Post #: 26060556
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Originally posted by stardestr0yer ↑

In the AFR:
===============================
Software company 9 Spokes is seeking a $10 million equity injection via a two tranche placement.
Stockbroker Bell Potter Securities contacted fund managers on Tuesday morning, seeking buyers for 76.9 million new 9Spokes shares at 13¢ each.
The offer was priced at a 13.3 per cent discount to the last close and an 11.4 per cent discount to the 15-day volume weighted average price.
Proceeds were to help the company's expansion in North America and accelerate growth.

The broker was seeking bids by 4pm on Tuesday, according to terms sent to investors.

Bell Potter was named as lead manager and bookrunner, while Foster Stockbroking is a co-manager.
9 Spokes has business analytics software, which enables management and advisers to access data and metrics across key areas of their business.
9 Spokes shares went into a trading halt on Tuesday morning and were scheduled to resume trading on Thursday.
The company had a $60.4 million market capitalisation prior to the placement.
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Simply has to be an acquisition in the works to raise that much cash.. I was hoping they would have enough cash on the runway if this quarterly looked good an they reduced cash burn to say 1 - 1.5m. In all honesty do not like this for shareholders.

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I wonder if they will announce signing a US bank at the same time.... "Expansion in North America"....

9SP Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
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I wonder if they will announce signing a US bank at the same...

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