Black Pearl Group's $2 million share purchase plan offer has been oversubscribed, with applications totalling approximately $3.15m received from over 1,450 shareholders.
The share purchase plan is part of the company's equity raising, which also included an oversubscribed placement of $10.5m.
The new shares under the share purchase plan will be issued at $1.25, the same price as the shares in the placement.
However, the applications will be scaled on a proportionate basis, and refunds will be made for the surplus amounts.
The allotment and settlement of the shares issued under the share purchase plan are expected to occur on October 31, 2024, with trading on the NZX to commence on the same day.
Black Pearl Group is a data technology company specialising in AI-driven sales and marketing solutions for the US market.
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