- Regtech company Identitii (ID8) has entered a trading halt ahead of an upcoming capital raise
- Currently, it’s not known how much the company is aiming to raise or the money will be spent
- Company shares will be paused until Thursday or until more details are released to the market
- More recently, Identitii began its first project under the five-year agreement with Mastercard
- The agreement will allow Identitii to sell its software and services to any Mastercard business globally
- Identitii shares last traded for 20 cents per share on November 23
Identitii (ID8) has entered a trading halt ahead of an upcoming capital raise.
So far, it is not known how much the fintech company is wanting to raise and why they are raising money.
Company shares will be paused until Thursday, November 26, or until more details are released to the market.
The raise comes after the company and Mastercard began their first project under the recent five-year Master Service Agreement both companies signed.
The agreement allows Identitii to sell its software and services to any Mastercard business globally.
Meantime, during the September quarter, the company spent over $837,000 on operating activities and at the end of the quarter had over 1.7 million in the bank.
At the time, CEO John Rayment said he was very pleased with the company’s performance during the first quarter of the 2021 financial year.
Before today’s trading halt, Identitii shares last traded at 20 cents per share on November 23.