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  • 8Common (8CO) places its shares in a trading halt pending the release of an upcoming capital raising
  • The enterprise software company will remain in the halt until August 4 or when more details are released, whichever occurs first
  • In late July, the company's subsidiary was selected as the solution provider of Travel and Expense Management for the GovERP capabilities panel
  • GovERP forms part of the Shared Services Transformation Initiative which provides resource and provision services across the Australian public sector
  • Shares in 8Common last traded at 19 cents on July 30

8Common (8CO) has placed its shares in a trading halt pending the release of an upcoming capital raising.

The enterprise software company will remain in the halt until August 4 or when more details are released, whichever occurs first.

8Common is yet to disclose how much it intends to raise or what it will use the funds for once received.

In late July, 8Common announced its subsidiary, Expense8, was selected as the solution provider of Travel and Expense Management for the Australian Government's GovERP Complementary capabilities panel.

GovERP forms part of the Shared Services Transformation Initiative which provides resource and provision services across the Australian public sector.

It is expected to be established by mid-20022 with first clients to join in mid-2023.

8Common last asked investors for cash in October 2020 in regard to a $2.25 million placement.

A total of 17,307,692 shares were offered to sophisticated and institutional investors at 13 cents.

Once received, 8Common used the funds to expand its integrated payment and expense management solution, CardHero.

Shares in 8Common last traded at 19 cents on July 30. The company has a $38.09 million market cap.

8CO by the numbers
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