Join our daily newsletter At The Bell to receive exclusive market insights
- Internet provider Pentanet (5GG) is gearing up to raise additional cash after placing its shares in a trading halt
- The company’s securities will remain halted from trading until it releases the details of its planned capital raise
- 5GG shareholders should find out how much the company is planning to raise, and how, by Friday, when the trading halt expires
- Before today’s announcement, Pentanet had been focused on launching its Beta Program for GeForce NOW
- Company shares last traded at 76 cents each on June 15
Internet provider Pentanet (5GG) is gearing up to raise additional cash after placing its shares in a trading halt.
The company’s securities will remain halted from trading until it releases the full details of the planned capital raise.
5GG shareholders will find out how much the internet business is planning to raise, and how, by Friday, June 10 — the date the trading halt expires.
Before today’s announcement, Pentanet had been focused on launching its Beta Program for GeForce NOW.
The program went live on June 9, and essentially works by providing Australian subscribers with cloud gaming services to most devices.
“The launch of GeForce NOW Powered by Pentanet will further democratise
gaming access in Australia by instantly transforming nearly any laptop, desktop, Mac, SHIELD TV, Android device, smartphone or tablet to have the processing power of a high-end gaming PC,” 5GG said in a statement.
Pentanet has teamed up with cloud storage business NEXT DC to deliver the program over a three-stage rollout.
5GG shares last traded at 76 cents each on Tuesday, June 15.
