Australia's Adslot jumps most in about a month on premium capital raise

Adslot

09/06/2023 03:18

** Shares of Adslot Ltd  ADS.AX  jump as much as 33.3% to
A$0.004, posting their biggest intraday pct gain since May 11
    ** Co announces A$4.25 mln ($2.85 mln) capital raising,
consisting of A$1.1 mln placement and fully underwritten
1-for-2.8 pro-rata non-renounceable entitlement offer for A$3.15
mln
    ** Issue price of A$0.004 per new share is at a 33.3%
premium to last close on June 6
    ** Co says funds raised to be used for continued investment
in product development, among others
    ** ADS stock down 66.7% YTD, as of last close
    
($1 = 1.4916 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))