Trade Window Holdings Ltd (TradeWindow) is pleased to announce that its $1 million Share Purchase Plan (SPP) closed fully subscribed. The SPP closed on 25 July 2022. The SPP forms part of TradeWindow’s $10 million capital raising announced on 12 July 2022, whereby TradeWindow also undertook a $9 million private placement of new shares (Placement).
TradeWindow CEO AJ Smith said: “We thank shareholders for their support of TradeWindow through both the fully-subscribed share purchase plan and oversubscribed placement. The funding will enable us to continue to execute on the next phase of our growth strategy and plans.”
The new shares under the SPP will be issued at the price of NZ$0.70 which represents the lower of the price paid by investors in the Placement (NZ$0.70 per share) and a 2.5% discount to the five day volume weighted average price of TradeWindow shares traded on the NZX during the five trading days up to, and including, the end of the SPP offer period.
Together with the $9m placement of new shares, TradeWindow has raised $10m in new equity.
Settlement and allotment of the new shares issued under the SPP is expected to occur on 29 July 2022. The new shares will rank equally with existing TradeWindow shares on issue.