Urbanise.com Limited (ASX: UBN) today announces that it has received commitments to raise $2.25 million via an institutional-led private placement for the issue of 45 million fully paid ordinary shares (“placement shares”).
$2.25 million commitments received in institutional-led private placement
45 million fully paid ordinary shares issued at 5 cents per share, a small premium to the 30-day volume weighted average price (VWAP)
Funds used to accelerate product development and for general working capital purposes