Leading software technology communications company, MGM Wireless Limited (ASX:MWR) (“MGM” or “the Company”) is pleased to announce that the share purchase plan (SPP) which closed on 7 July 2020 was heavily oversubscribed.
Valid applications in excess of $5m were received, exceeding the original target of $1.5m by 236%.
The offer size has been increased to $2.5m to ensure the Company is well capitalised to execute on the immediate growth opportunities presented by the release of its recently announced SPACETALK Life Seniors device and new Vodafone distribution agreement.
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