TradeWindow, a global trade software company, has announced that it has secured $500,000 in new equity and met a key condition for a lending covenant waiver from ASB.
The new capital comes from existing investors, including the founders of TradeWindow, as well as new investor Phil Richards.
The company plans to issue 2,057,614 shares at a price of 24.3 cents per share, representing a 10% discount.
TradeWindow is also exploring additional funding options, cost reduction measures, and aims to accelerate EBITDA breakeven.
The company will release its financial results for the six months ending in September on November 29, 2023, and will host a webcast on the same day.
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