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Design Milk Co: Raises $2.45M, announces SPP

Design Milk Co (DMC) has received commitments to undertake a $2.45 million two-phase placement
The digital media company has also announced a share purchase plan (SPP) with aims to raise an additional $200,000
Under the placement, more than 408.3 million shares will be issued to sophisticated and professional investors at 0.6 cents
This price represents a 22 percent discount to the five-day volume-weighted average price of 0.77 cents
In regards to the share purchase plan, eligible shareholders will be able to subscribe for up to $30,000 worth of shares at 0.6 cents
Design Milk is steady on the market and shares are currently trading at 0.8 cents