FinTechFunding

Collaborate: Announces $3.5M entitlement issue

  • 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
Previous article
Advocate Networks: Receives Investment from Spire Capital Partners
Next article
Contemi Solutions: Announces extension of contract with Canaccord Genuity
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.

You May Also Like

FinTech

UK Banks Reject Opportunity to Lift £100 Contactless Limit

Major UK banks choose not to increase contactless payment thresholds.Highlights: UK banks will not raise the £100 contactless...
FinTech

Crypto.com Cuts 12% of Workforce Amid AI Shift

The company streamlines operations in response to evolving market dynamics.Highlights: Crypto.com reduces workforce by 12%Focus shifts to AI...
FinTech

Tide Strengthens Leadership with PPRO CTO Appointment

The fintech company welcomes a new chief technology officer to enhance its team.Highlights: Tide appoints ex-PPRO CTO to...
FinTech

Visa Overcomes Legacy Issues with Unified API for Intelligent Authorization

New API aims to streamline payment processes and enhance security features.Highlights: Visa launches a unified API to improve...