Change Financial: Launches $5.72m capital raising

Change Financial Launches $5.72m capital raising

• Change Financial (CCA) launches a $5.72 million capital raising comprising of a placement and non-renounceable entitlement offer
• The placement will raise $750,000 through the issue of 15 million new fully-paid shares to new institutions, and sophisticated and professional investors at a price of five cents
• ChangeFinancial will then undertake a one-for-four non-renounceable entitlement offer to raise the remaining $4.97 million with shares also priced at five cents
• The money from the placement and entitlement offer will be used to accelerate product enhancement and pay $750,000 of debt
• Shares in ChangeFinancial are down 5.1 per cent and are trading at 5.5 cents at 2:34 pm AEST