DWG Announces A$4.24m Cap Raise to Support Next Growth Stage

Key points

• Dataworks to raise A$3.0m through placement at A$0.12 per share
• 1-for-10 entitlement offer to raise up to A$1.24m
• Funds to strengthen balance sheet, support government programs
• Placement participants to receive free attaching options
• Lead Manager Cygnet Capital, Co-Manager Taylor Collison

Full summary

Dataworks Group Limited (ASX: DWG) has announced a capital raising comprising a placement to sophisticated and professional investors and a non-renounceable entitlement offer to eligible shareholders. The placement aims to raise A$3.0 million through the issue of 25 million new shares at A$0.12 per share, while the entitlement offer seeks to raise up to A$1.24 million. The total capital raising, if fully subscribed, will amount to approximately A$4.24 million. The funds will be used to strengthen the company's balance sheet, support the mobilization and delivery of government programs, fund commercial execution, invest in platform and product development, and cover capital raising costs.