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

Italy Fines Revolut €1.15M for Regulatory Violations

Revolut faces penalties due to non-compliance with Italian financial regulations.Highlights: Italy fines Revolut €1.15 million for regulatory breaches.The...
FinTech

DeFi Platform Drift Suspends Withdrawals After Crypto Hack

Drift takes precautionary measures following security breach affecting user funds.Highlights: Drift has suspended all deposits and withdrawals after...
FinTech

Cross River Bank Raises $50 Million to Accelerate Growth

The funding will enhance Cross River Bank's financial technology services.Highlights: Cross River Bank has raised $50 million in...
FinTech

Kulipa Secures $62M to Enhance Stablecoin Card Issuing Infrastructure

Funding aims to strengthen cryptocurrency card services in the growing fintech market.Highlights: Kulipa raises $62M to enhance its...