Leading BSB data intelligence and logistics software company Invigor Group Limited (ASX: IVO) reported that it has further strengthened its balance sheet with the completion of a $952,000 capital raising on the same terms as the Placement that was reported to shareholders on 5 December 2017. This takes total funds raised in December 2018 to $1.76M
A further 119,684,186 fully paid ordinary shares will be placed at $0.007 per share, utilising the Company’s available approved issue capacity with 16,158,114 shares agreed to be issued on the same terms subject to shareholder approval. For every to two new shares issued, investors will receive a free attaching option exercisable at $0.007 by 28 February 2018. With the exercise of all these options at the end of February 2018, IVO will have raised up to $2.64M.
A shareholders meeting approving the issue of the shares and options will be held in early February 2018.
The new funds come at a pivotal time for Invigor with its core big data and data solutions business experiencing record tendering activity. Multiple new customer contracts in Australia and Asia are expected to be awarded in the coming months. New partnership agreements are also pending.
As well, the Skyware Logistics SAAS division of the Condat business is also growing strongly with new ‘last mile’ logistics and workforce mobility contracts expected to be awarded shortly.
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