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Splitit: Closes $10M SPP with $89.5M in applications | Fintech InShorts: Latest fintech news, analysis by experts

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Splitit: Closes $10M SPP with $89.5M in applications

By Steve Sam

September 19, 2020

Splitit (SPT) has closed its share purchase plan (SPP) heavily oversubscribed, with applications totalling almost $90 million
The company had only been planning to raise $10M via the SPP, meaning it will have to scale back the applications
Over 7M shares will issued under the SPP later this month, with shares to added to a quotation from September 25
The CEO of Splitit said the company was overwhelmed and delighted with the interest shown by shareholders
Additionally, Splitit also raised $90 million via a recent placement, to give the company $100 million in additional capital
Shares in Splitit ended the day trading up 5.48 per cent, at $1.64

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