- TALi Digital (TD1) has received binding commitments from institutions and sophisticated investors to raise $3.85 million before costs
- Through its placement, the company will issue just over 98.7 million fully paid ordinary shares at an issue price of 3.9 cents each
- TALi will also issue one free attaching option for every two shares purchased, producing an extra $4.44 million in potential proceeds
- Proceeds will fund the acceleration of TALi’s global expansion and the commercial domestic rollout of the company’s product suites
- TALi Digital is up 2.38 per cent and trading at 4.3 cents per share
TALi Digital (TD1) has received binding commitments from institutions and sophisticated investors to raise $3.85 million before costs.
The company will conduct a placement, issuing 98,717,948 new and fully paid ordinary shares. The shares will be sold at an issue price of 3.9 cents each, for total proceeds of $3.85 million.
Subject to shareholder approval, TALi Digital will also issue one free attaching option for every two new shares purchased in the placement. At an exercise price of 9 cents each, the free attaching options could produce an extra $4.44 million in potential proceeds.
The options will expire 12 months after the date of their issuance.
The placement is expected to reach settlement on or around February 17, 2021, with new shares being issued to start trading on February 22, 2021.
The proceeds of the placement will be used to fund two of TALi Digital’s major goals. The first will be the acceleration of the company’s expansion into global markets, through licensing agreements and partnerships in the U.S., Japan, China, Australia, India and Europe.
The second goal will be funding the commercial rollout of the company’s TALi DETECT and TALi TRAIN product suites domestically.
TALi Digital’s Managing Director, Glenn Smith, commented on the received commitments which have made the company’s impending placement possible.
“The strong support Tali has received from existing and new investors reflects the support for our leading TALi DETECT and TALi TRAIN cognitive performance tools,” he said.
“The significant opportunity for Tali to work with various channel partners to drive global adoption of our TALi TRAIN and TALi DETECT tools was highlighted by the investment of up to US$7 million [approximately A$8.97 million] from The Times Group, a business with a significant track record of making successful investments and facilitating rapid growth of partner organisations in India,” he added.
TALi Digital is up 2.38 per cent, trading at 4.3 cents per share at 2:47 pm AEDT.