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archTIS (ASX:AR9) - CEO & Executive Director, Daniel Lai
CEO & Executive Director, Daniel Lai
Source: SecurityBrief
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  • Computer security company archTIS (AR9) has invited eligible shareholders to participate in a share purchase plan to raise $500,000
  • This follows the company’s successful placement that raised approximately $1.65 million
  • Under the share purchase plan, eligible shareholders will be able to purchase between $2000 and $30,000 worth of shares
  • Even though archTIS is aiming to raise $500,000, it has the right to accept additional applications, subject to shareholder demand
  • The funds will be used to execute and convert archTIS’ pipeline of customer opportunities for its Kojensi data security product
  • Kojensi is a secure content and collaboration platform that is used for sharing sensitive and classified files and documents
  • archTIS has ended the day 3.57 per cent in the green with shares trading for 5.8 cents each

Computer security company archTIS (AR9) has invited eligible shareholders to participate in a share purchase plan to raise $500,000.

This follows the company’s successful placement that raised approximately $1.65 million.

In regards to the placement, approximately 30.5 million shares were issued to sophisticated, institutional, and professional investors at a price of $0.055 per share.

Under this share purchase plan, eligible shareholders will be able to purchase between $2000 and $30,000 worth of shares.

Shares will also be priced at $0.055 which represents a 30 per cent discount to the five-day volume weighted average price before the share purchase plan was announced.

Even though archTIS is aiming to raise $500,000, it has the right to accept additional applications, subject to shareholder demand.

However, the number of shares that can be issued is capped at 45,117,039.

The share purchase plan opened today, will close on June 9, and shares will be issued on June 16.

Money from both the placement and share purchase plan will be used to execute and convert archTIS’ pipeline of customer opportunities for its Kojensi data security product, as well as general working capital.

Kojensi is a secure content and collaboration platform that is used for sharing sensitive and classified files and documents.

archTIS has ended the day 3.57 per cent in the green with shares trading for 5.8 cents each in a $6.893 million market cap.

AR9 by the numbers
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