FinTechFunding

AnteoTech: Enters $3.76M option underwriting agreement

  • AnteoTech has entered an option underwriting agreement for Mahe Capital to underwrite the excess of the options currently on issue
  • All up, 188.1 million options are currently on issue — exercisable at two cents each — to raise $3.76 million
  • These options have an exercise price of two cents and an expiry date set for December 6, 2020
  • Based on its $75,000 June quarter cash burn, and with government grants and customer receipts totalling $1.12 million
  • Then the company states it will now fully-funded beyond 2021
  • AnteoTech is steady on the market this morning and shares are currently trading for 5.2 cents each
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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