DomaCom to raise up to $3M in Convertible Notes

Company News

by Jessica Ellerm

DomaCom Australia Limited (ASX:DCL) has announced it is in the process of negotiating several 2 and 3 year Convertible Note issues that will raise up to $3 million in cash for the company.

The fractional property investor has indicated it has agreements for $1.7 million currently in progress.

The business will announce a significant cost reduction program during January, the extent of which will be determined by the total raised via Convertible Notes.

The business also expects to bank up to $800K over the next 7 months in research and development rebates from the ATO.

Shares in DomaCom Australia Limited (ASX:DCL) are trading 4.76 per cent lower at $0.10.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.