- CV Check has completed a $3 million placement to fund working capital
- The placement consisted of 18.8 million shares at a price of 16¢ per share
- Funds from the placement will be used for working capital purposes and accelerating on achieving the strategic objectives
CV Check has completed a $3 million placement to fund working capital.
The placement consisted of 18.8 million shares at a price of 16¢ per share and was led by Shaw and Partners and Foster Stockbroking.
Funds from the placement will be used for working capital purposes and accelerating on achieving the strategic objectives.
CV Check provides businesses with background checks or people wanting an Australian or International Police check.
The company has conducted more than 300,000 verification checks every year for private and government organisations, employers and individuals.
CV Check was supported by new institutional, sophisticated and professional investors during this raise and strong interest also came from existing investors in the company.
CEO Rod Sheerwood is pleased with the placement.
“Following completion of the Placement, together with our growing revenue streams and debt-free balance sheet, CV Check will be well funded to pursue the growth prospects as signalled in our recent operating updates,” he said.
Settlement of the Placement is expected to occur on Thursday, August 22 with new shares to be allocated on Friday, August 23.
“Thank you to all shareholders for the support, we look forward to reporting on the team’s continued strong execution on our strategic objectives,” Rod said.
CV Check has dropped 8.33 per cent on the ASX today and is currently selling shares at 15.5¢.