- Vehicle lender Collaborate (CL8) plans to offer a non-renounceable entitlement issue of shares and free-attaching options
- The company hopes to raise approximately $3.5 million, before costs, through the partially underwritten entitlement issue
- Collaborate will also offer up to approximately 384 million new shares at an issue price of 0.9 cents each
- The entitlement issue proceeds will fund continued growth of the Carly car subscription business and DriveMyCar car rental business
- Collaborate’s CEO, Chris Noone, thanked all company shareholders for their past and ongoing support
- Collaborate Corporation fell 11.11 per cent, to trade for 0.8 cents per share
