Capital Raise
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| Stock | Thrive Tribe Technologies Ltd (1TT.ASX) |
|---|---|
| Release Time | 31 Dec 2024, 10:20 a.m. |
| Price Sensitive | Yes |
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Thrive Tribe Technologies Announces $1M Capital Raise
Key Points
- Firm funding commitments from sophisticated and professional investors totalling $1,000,000
- 625,000,000 new shares to be issued at $0.0016 per share
- Funds to be used for working capital
Full Summary
Thrive Tribe Technologies Limited (ASX:1TT, Thrive Tribe or Company) is pleased to announce that it has received firm funding commitments from sophisticated and professional investors totalling $1,000,000 (Placement). The Placement will issue 625,000,000 new shares (New Shares) at an issue price of $0.0016 per share. The use of funds is for working capital. Clee Capital Pty Ltd (Clee Capital) has been appointed lead manager for the Placement. The fees payable to Clee Capital (excluding GST) are 6% of all funds raised under the Placement. 1TT will issue the shares pursuant to resolution 4 as approved by shareholders at the AGM on 22 November 2024. The $0.0016 price is a 20% discount to the 5 day VWAP.