Linius Technologies Announces Completion of $4.5M Capital Raising

Linius Technologies Limited (ASX: LNU) (Linius or Company) is pleased to announce that it has successfully completed a A$4.5 million capital raising, which was oversubscribed, taking combined commercialization funding to an aggregate A$6 million to support the Company’s go-to-market strategy for its patented Video Virtualization Engine™ or VVE.

The capital raising will result in the placement of 90 million fully paid ordinary shares at an issue price of $0.05 each with one free attaching option for every two shares issued (for an aggregate 45 million options). The options will have an exercise price of $0.075 each, expiring on 30 May 2019. The A$4.5 million in funds raised are in addition to the A$1.5 million private placement in July to Village Roadshow and Kirby family interests

“The closing of this round puts Linius in a strong position to enter the next stage of our business growth and deliver shareholder value,” said Chris Richardson, Linius CEO. “We’ve already announced our first commercial win, and this injection of capital sets us up to expand on that initial win and generate meaningful revenue across all of our divisions.”

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