Snakk raises $6.5M in over-subscribed share purchase plan, private placement

Fri, 24 May 2013

By Paul McBeth May 24 (BusinessDesk) - Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, has raised $6.5 million from an over-subscribed share purchase plan and private placement, which it will use both to fund its expansion and potentially takeover targets. The Auckland-based company raised about $5.9 million from the share purchase plan and $600,000 in a private placement to eligible investors at 12 cents a share, a 20 percent discount to the current price. The share purchase plan and placement will increase Sna...

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