Presentation - Successful Placement OversubscribedSydney, Dec 18, 2020 AEST (ABN Newswire) - Etherstack plc (
ASX:ESK) is pleased to announce it successfully raised AUD $5 million via an institutional Placement with new institutional investment funds and HNW investors (Placement).
Key points:
- Strong support from institutional investors. The Placement was substantially oversubscribed demonstrating the strength of support from the institutional investors; and
- Proceeds of the Placement will provide balance sheet flexibility to:
o Enable and accelerate the pursuit of evolving market opportunities in Government Infrastructure, Defence and Public safety markets in particular those opportunities involving Etherstack's Mission Critical Push to Talk and PTT over satellite solutions;