Ovanti Limited (ASX: OVT), a provider of fintech and digital commerce software solutions enabling secure customer authentication and transaction processing, has announced the completion of a capital raise. The company successfully secured $1,080,711 through a placement of 786,543,365 ordinary shares at a price of $0.001374 per share. The placement was made to professional and sophisticated investors.
The shares will be issued within the company’s placement capacity under ASX Listing Rule 7.1A. Clee Capital facilitated the placement, and will receive a 6% + GST fee on the funds raised, along with 60 million options exercisable at $0.003, expiring three years from the issue date. The issue price represents a 15% discount to the 15-day volume weighted average price (VWAP).
Proceeds from the placement are earmarked for several key initiatives. A significant portion will fund the ongoing development of Ovanti’s U.S. Buy Now, Pay Later (BNPL) business, including merchant and partnership agreements. Funds will also support global operations, legal expenses, general working capital needs, and costs associated with the capital raise itself.
The announcement was authorised for release by Joshua Quinn, Director and Company Secretary of Ovanti Limited, on behalf of the Board of Directors.
