archTIS has announced the completion of the Share Purchase Plan (SPP) announced by the Company on 2 December 2022.
The initial $500,000 SPP was oversubscribed by more than 40%, raising a total of $700,802 through the issuance of 6,674,268 fully paid ordinary shares (Shares) at $0.105 per Share, together with 3,337,102 free-attaching Options, each exercisable at $0.20, expiring 23 December 2025.
In addition, the placement for sophisticated and institutional investors which was completed in early December (Placement) raised $1.35 million (with an additional $150,000 to be raised subject to shareholder approval for Director participation in the Placement, to be sought in early 2023) by the issue of 12,857,142 Shares at $0.105 per Share, together with 6,428,567 free-attaching Options, each exercisable at $0.20, expiring 13 December 2025.
Daniel Lai, Managing Director and CEO stated, “I am pleased to announce the oversubscription of the SPP by more than 40% by our valued shareholders. As part of our recent capital finance strategy, shareholder contributions will play a large part in our growth plan for releasing Kojensi into international markets. Shareholder support and dedication are greatly appreciated as we look forward to delivering on our key objectives in 2023 and beyond.”
