Assetora Limited (ASX: AOH) has announced it has entered a binding Share Subscription Agreement with CloudTech Group Pty Ltd for a $3 million private placement. Assetora is a company focused on providing investment solutions and wealth management services through its technology platform. The placement will occur in two tranches, with $500,000 to be received upon execution and $2.5 million upon filing of satisfactory audited reports and ASX reinstatement, subject to ASX approval.
The initial tranche involves the issue of approximately 3,571,429 shares at $0.14 each. The second tranche is conditional upon completion of the first, the filing of satisfactory audited FY25 financial reports by stipulated deadlines, and the company’s reinstatement to trading on the ASX. The shares for the second tranche will be issued at the lower of $0.14 per share or the average of the 5 daily VWAPs prior to the completion date.
The funds raised will be used to support Assetora’s growth initiatives, including the expansion of its investment platform and new fund launches. CloudTech will also have participation rights in future debt and equity raisings by the company. According to Assetora Chairman, Giuseppe Porcelli, the investment from CloudTech is a vote of confidence in Assetora’s vision and growth trajectory.
