BPS Technology Limited
(ASX:BPS) has finalised the issue and placement of convertible notes at $1.175 per share conversion ratio and raising a total of $5 million.
The company said the proceeds will be used to fund earnings accretive acquisitions and to further accelerate merchant growth in the company’s key strategic areas.
BPS Technology also announced that its subsidiary Bartercard has completed the acquisition of two Brisbane metro franchises.
BPS maintains its target of doubling its merchant base from 24,000 to 50,000 within the next eighteen months.
BPS Technology recorded a net profit of $7.88 million at 30 June 2015.
