Successful 'At Market' Placement of up to $6.5m at $0.19
The placement is a result of the successful Hong Kong, Sydney and Melbourne investor briefing with regards to the Company's recent Appendix 4C results.
During the briefing roadshow, both existing and new institutional investors indicated a strong desire to participate in any future capital raisings the company planned. Such was the demand, that the placement price is at a premium to the current market 5 day Volume Weighted Average Price (VWAP) price up to the 31st October, with a total of up to 34,210,526 new shares to be issued.
The 'at market' price of 19c has been calculated based upon a 5 day Volume Weighted Average of $18.846c.
The placement includes the issue of unlisted options, distributed pro-rata to participants, and issued at a ratcheting strike price of
- $0.24 on a 1 to 12 basis, based upon 15 month expiry, or up to 2,850,877 options.
- $0.27 on a 1 to 12 basis, based upon 18 month expiry, or up to 2,850,877 options.
- $0.31 on a 1 to 12 basis, based upon 27 month expiry, or up to 2,850,877 options.
Full exercise of the above options would provide the Company with up to an additional $2.33m in working capital.
The capital will be applied towards "own funds" requirements for its EEA authorised payment subsidiary, iSignthis eMoney Ltd (SWIFT BIC : ISEMCY21) trading as ISXPay(R), and also in accelerating the Company's strategy further by expanding sales and marketing activity.
The Company requests that the trading halt be lifted, and that normal trading commence.
Note: An Appendix 3B and Section 708(5) cleansing statement will follow next week based on finalisation of settlement figures.
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is the global RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to regulated merchants in as little as 3 to 5 minutes.
iSignthis Paydentity service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, Australia and New Zealand.
ISXPay is a principal member of Visa, Mastercard, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, Trustly, WeChat, AliPay and others.
Probanx Information Systems Ltd (Probanx), a wholly owned subsidiary of iSignthis Ltd, is an international banking software company which has been serving the banking industry since the year 2000 by developing comprehensive banking software solutions to financial institutions around the globe. Probanx offers web-based banking solutions using the latest technology and international standard business rules. Our customers are located on five continents and supported from our technical centres in Europe and Australia.
iSignthis' Probanx delivers core banking software, including a fully comprehensive and versatile banking solution for retail, corporate and private banks, emoney and payment institutions, offering capabilities that up until now were affordable only by large commercial banks.
Read more about the company at our website http://www.isignthis.com
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