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Aspermont (ASX:ASP) raises $3M for development
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  • Media service provider Aspermont (ASP) has successfully raised $3 million via a share placement
  • All up, 100 million new ordinary shares were issued to a new German institutional investor at 3 cents — representing a 329 per cent premium to the rights issue price of 0.7 cents from June
  • Aspermont will use the funds to develop and expand its existing organic anything-as-a-service (XaaS) and data models
  • Shares in Aspermont are down 2.94 per cent on the market and are trading at 3.3 cents

Media service provider Aspermont (ASP) has successfully raised $3 million via a share placement.

The company entered a trading halt only yesterday but did not disclose how much it intended to raise or what it would use the funds for once received.

All up, 100 million new ordinary shares were issued to a new German institutional investor at 3 cents — representing a 329 per cent premium to the rights issue price of 0.7 cents from June.

Aspermont will use the funds to develop and expand its existing organic anything-as-a-service (XaaS) and data models.

"We are delighted to welcome a well-regarded German institutional investor as a new shareholder. Our Frankfurt listing has brought us to the attention of German and European investors who have quickly identified our value proposition," Managing Director Alex Kent commented.

"The proceeds from the placement brings our cash balance to over $7 million which will be deployed to finance the organic development of our existing key XaaS and data commercial models and for further development of our operational capacities," he added.

Shares in Aspermont are down 2.94 per cent on the market and trading at 3.3 cents at 1:20 pm AEDT.

ASP by the numbers
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