Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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¢.

CV1 by the numbers
More From The Market Herald
The Market Herald Video

" Change Financial (ASX:CCA) launches $5.72m capital raising

Change Financial (ASX:CCA) has launched a $5.72 million capital raising comprising of a placement and non-renounceable…
The Market Herald Video

" Eric Lookhoff resigns as CEO of QuickFee (ASX:QFE)

Eric Lookhoff has resigned as CEO of QuickFee (ASX:QFE) for personal and family reasons.
Way2VAT (ASX:W2V) - Founder & CEO, Amos Simantov

" Way2VAT (ASX:W2V) to wholly acquire DevoluIVA

Way2VAT (ASX:W2V) will 100 per cent acquire Spanish corporate expense and VAT digital recovery company DevoluIVA…
The Market Herald Video

" Flexiroam (ASX:FRX) expands Mastercard into global agreement

Flexiroam (ASX:FRX) has expanded its Global Data Plan partnership with Mastercard Asia Pacific to cover all…