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HomeFinTechReadyTech: Completes $25M raise to fund Open Office acquisition

ReadyTech: Completes $25M raise to fund Open Office acquisition

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  • ReadyTech (RDY) has completed a fully underwritten institutional placement to raise roughly $25 million
  • The funds will raised through the issue of 13.3 million new shares at $1.88
  • ReadyTech will also use the money to fund the potential acquisition of software provider Open Office and its key business partner McGirr
  • Then the company will be potentially undertaking a share purchase plan to raise an addition $4 million
  • If the plan takes place, eligible shareholders will be able to subscribe for up to $10,00 worth of shares, subject to eligibility criteria
  • After emerging from a trading halt, shares in ReadyTech are down 1.50 per cent and trading for $1.97 cents

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