TradeWindow has successfully closed its oversubscribed $2.2 million capital raise, attracting new institutional investor and the support of existing shareholders.
The global trade software company said the $2m placement was fully subscribed, while the share purchase plan received applications that exceeded the initial $200k target.
As a result, TradeWindow has decided to accept all over-subscriptions.
The company revealed that the new institutional investor has taken a 25% stake in the placement, while it also garnered significant support from existing shareholders and attracted over 1,000 new retail investors through Sharesies.
This capital raise will provide TradeWindow with the necessary funds to drive growth in the Australasian markets and strengthen its balance sheet.
The company expects the funding to carry it through to monthly EBITDA breakeven in March 2025.
The allotment of new shares will be made on April 26 2022.
TradeWindow will release its financial results for the year ended March 2024 on May 30.
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