Total
0
Shares
8common (ASX:8CO) - Founder & Executive Chairman, Kah Wui 'Nic' Lim - The Market Herald
Founder & Executive Chairman, Kah Wui 'Nic' Lim
Source: Digital News Asia
  • Fintech company 8common (8CO) has successfully completed its recent capital raise, walking away with $2.25 million in extra cash
  • Under the placement, new shares were worth 13 cents each with over 17.3 million shares on offer
  • The placement is expected to settle on October 28, with new shares to begin trading on the ASX by October 30
  • 8common will use the extra $2.25 million to expand CardHero, the company's integrated payment and expense management solution
  • Following the release of the raise details, 8common has come out of a trading halt
  • Shares in 8CO ended the day worth 14 cents each

8common (8CO) has successfully completed its recent capital raise, walking away with $2.25 million in extra cash.

The fintech company said it received firm commitments from investors as part of the share placement.

Under the offer, new shares were worth 13 cents each and over 17.3 million shares were available to buy.

The placement will settle on October 28, with new shares to begin trading on the ASX by October 30.

"8common are delighted with the strong response from the institutional investment community to the placement," 8CO Executive Chairman Nic Lim said.

The fintech stock will use the $2.25 million raised to expand CardHero — the company's integrated payment and expense management solution.

"The demand for corporate virtual and physical card payments are expected to continue to rise in tandem with consumer payments," Nic explained.

"Our experience and position as a preferred supplier within the government and large corporate space has ensured we are well placed to deliver the CardHero platform and capture this growth opportunity," he added.

Following the release of the raise details, 8common has come out of a capital raise related trading halt.

Shares in 8CO have ended the day worth 14 cents each, trading grey.


Subscribe


8CO by the numbers
More From The Market Herald
Magnis Energy Technologies (ASX:MNS) - Chairman, Frank Poullas - The Market Herald

" Magnis Energy Technologies (MNS) strikes three-way deal for Dubbo meat processing

Magnis Energy Technologies (MNS) has struck a three-way deal with the University of Newcastle (UoN) and meat processing giant Fletcher International Exports this
Quantify Technology (ASX:QFY) secures certification for qBlind

" Quantify Technology (ASX:QFY) provides update on Zimi merger

Quantify Technology (QFY) has provided an update on its planned merger with GSM Innovations and its Zimi brand.
3DP, DaaS - The Market Herald

" Pointerra (ASX:3DP) increases annual contract value by 18pc

Pointerra (3DP) has delivered a strong increase in its annual contract value (ACV) over October and November.
IOUpay (ASX:IOU) - Director, Datuk Khairul Idham Bin Ismail - The Market Herald

" Ioupay (ASX:IOU) taps Datuk Khairul Idham Bin Ismail for director role

Bourgeoning Southeast Asian fintech IOUpay (IOU) has appointed Datuk Khairul Idham Bin Ismail to the company’s Board of Directors.