OneVue Holdings Limited (ASX:OVH)
has received commitments from institutional and sophisticated investors for $12.5 million through a share placement.
18.38 million OneVue shares were issued under the placement, priced at 68 cents per share.
A share purchase plan will be offered to eligible shareholders to raise up to $2.5 million, resulting in a total capital raise of up to $15 million before costs.
The net proceeds will be used to repay acquisition debt, strengthen OneVue’s balance sheet, and support working capital requirements.
OneVue recorded a net loss of $220,000 at 30 June 2015.