TradeWindow has announced that it has successfully completed a conditional institutional placement, raising approximately A$5 million ($5.8 million).
The placement, which received strong support from existing shareholders and new Australian institutional and sophisticated investors, will result in the issuance of about 22.9 million new fully paid ordinary shares.
The issue and allotment of shares in the placement are subject to shareholder approval, ASX approval, and the company's listing on the ASX.
TradeWindow said the strengthened cash balance will allow it to focus on its strategic objectives, including the development of its Freight AI operating system, the repayment of debt, and the growth of the company in Australia and New Zealand.
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