By Laura Lutz
Washington, Dec. 4 - Hyro Ltd. secured A$5 million from an oversubscribed private placement of shares.
The company agreed to sell 20 million shares at A$0.25 each, an 11.2% discount to the five-day volume weighted average price of the company's shares prior to the deal.
Tricom Equities Ltd. will underwrite the placement.
Proceeds will be used for acquisitions and working capital.
Hyro is a digital business services company based in Sydney, Australia.
| Issuer: | Hyro Ltd.
|
| Issue: | Shares
|
| Amount: | A$5 million
|
| Shares: | 20 million
|
| Price: | A$0.25
|
| Warrants: | No
|
| Underwriter: | Tricom Equities Ltd.
|
| Pricing date: | Dec. 4
|
| Stock symbol: | Australia: HYO
|
| Stock price: | A$0.265 at close Dec. 4
|
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