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Thorney Technologies: Raises $37M for growth opportunities | Fintech InShorts: Latest fintech news, analysis by experts

Less than 1 min.Read

Thorney Technologies: Raises $37M for growth opportunities

By Steve Sam

November 10, 2020

Investment business Thorney Technologies (TEK) has received firm commitments to undertake a $37 million capital raise
These funds will raised through a $27 million placement and a $10 million non-renounceable entitlement offer
Under the placement, more than 77 million shares will issued to institutional, professional, and sophisticated investors at 35 cents
The entitlement offer will give eligible shareholders the opportunity to subscribe for one new share for every nine held
Thorney will use the funds to invest in technology-related companies, increase its working capital, and pay costs associated with the placement, and offer
Company shares are up 5.88 per cent at market close, trading for 36 cents each