Department 13
(ASX:D13) has successfully raised $5.5 million before costs, in a share placement to new and existing shareholders.
The wireless and cellular technology company completed the placement of about 43 million shares at 12.5 cents per share.
As the placement was oversubscribed, it will allot a further 600,000 shares to nominated entities at 12.5 cents per share.
However, the extra allotment will be upon shareholder approval.
Department 13
(ASX:D13) opened 3.12% lower to 15.5 cents.
