By Sheri Kasprzak
New York, Dec. 16 - Impact Capital Ltd. said it has negotiated a private placement for up to A$10 million.
The offering includes up to 19,230,769 shares at A$0.52 each to sophisticated and institutional investors.
The company is also conducting a 1-for-10 non-renounceable rights offering for up to A$2.4 million in stock at A$0.52 each.
The deal is being underwritten by Bell Potter Securities Ltd.
The proceeds will be used to increase the funds available for the company's loan book.
Based in Melbourne, Australia, Impact Capital makes loans to plaintiffs in lawsuits.
| Issuer: | Impact Capital Ltd.
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| Issue: | Stock
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| Amount: | A$10 million (maximum)
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| Shares: | 19,230,769
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| Price: | A$0.52
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| Warrants: | No
|
| Underwriter: | Bell Potter Securities Ltd.
|
| Pricing date: | Dec. 16
|
| Stock price: | A$0.74 at close Dec. 16
|
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