GeoOp to bolster balance sheet with $7M placement, rights issue, debt conversion

Thu, 10 May 2018

By Sophie Boot May 11 (BusinessDesk) - GeoOp plans to raise up to $4 million in a share placement and rights issue followed by a redemption or conversion of $3 million in outstanding convertible notes and loans to strengthen its balance sheet. The workforce management app developer this week released an investor update repeating its intentions to raise further capital to reach breakeven, then invest to speed up its growth, which it first announced at its annual meeting last year. Today, the company said it has been talking to investors si...

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