Urbanise raises $6.5 million to accelerate growth and expansion
Private placement of $6.5 million 10 million ordinary shares issued at 65 cents each Urbanise well-funded to drive revenue growth and expansion strategy Urbanise.com Limited (Urbanise) (ASX:UBN) today announced that it has completed a private share placement of 10 million shares at 65 cents each to raise $6.5 million. The shares are due for issuance on or around 3 February 2016.
Commenting on the capital raising, Urbanise CEO Ben Churchill said, “These investors have a deep understanding of the opportunity presented to Urbanise and see strong potential for future revenue growth in the global service provider market. We are very pleased to have their continued support as long-term shareholders. The funds raised will further accelerate the development and implementation of the Urbanise Industry Cloud solution within our growing customer base.”
Urbanise will use the funds for growth capital purposes – primarily the expansion of headcount including customer facing implementation teams, the development of additional industry relevant features and driving additional revenue opportunities from current and future customers.
For further information contact: Katie Paynter +61 417 057 243