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Wide Open Agriculture: Raises up to $8.5M through placement and SPP | Fintech InShorts: Latest fintech news, analysis by experts

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Wide Open Agriculture: Raises up to $8.5M through placement and SPP

By Steve Sam

October 7, 2020

Wide Open Agriculture (WOA) has received binding commitments to raise $7 million through a placement
The company will issue 7,777,778 new fully paid ordinary shares to institutional and sophisticated investors at an issue price of 90 cents
In addition to the placement, WOA will launch a share purchase plan to raise up to $1.5 million
Shareholders will have the opportunity to purchase up to $30,000 worth of shares at 90 cents each
WOA will use the money to develop and operate its lupin protein and oat milk production facilities as well as develop an ethical meat and digital platform
Company shares are trading 8.41 per cent lower for 98 cents

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