Novatti Group Limited (ASX:NOV) (Novatti or Company), a leading fintech that enables businesses to pay and be paid, has closed its Share Purchase Plan (SPP), announced on 2 July 2021 as a part of a broader capital raising initiative raising over $40 million and following the Company’s acquisition of a 19.9% strategic stake in Reckon Limited.
The Company received applications for 452,742 shares for a total of $249,000 under the SPP. Shares applied for under the SPP are expected to be allotted and issued on Monday, 9 August 2021 and commence trading on ASX that same day, with holding statements to be dispatched the following day.
In addition to funding the Company’s stake in Reckon Limited, funds raised under the capital raising initiative (including from the SPP) will be used to grow the Novatti business into existing and new markets, pursue further strategic acquisition opportunities and licensing for the Company’s banking subsidiary, and for general working capital.
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