Shekel Brainweigh: Raises over $1.3m for weighing technology

Shekel Brainweigh Raises over $1.3m for weighing technology

• Shekel Brainweigh (SBW) receives firm commitments to raise over $1.3 million to fast-track its technology
• The Israel tech company will issue over 6.8 million shares for 20 cents per share, a 16.66 per cent discount to the last closing price
• Funds from the raise will be used to speed up retail innovation and fast-track technology commercialisation in the US and Europe and increase manufacturing capacity
• Following the placement, SBW intends to conduct an offer of new shares under a share purchase plan (SPP) to raise a further $1.6 million
• On the market today, SBW is down 14.6 per cent and trading at 20.5 cents per share