Australia's Archtis falls on discounted share placement

Archtis

02/12/2022 24:32

** Shares of data security firm Archtis  AR9.AX  fall as
much as 16% to A$0.105, their lowest level since June 22 
    ** Co raises A$3.5 mln ($2.38 mln) at an issue price of
A$0.105, a 19.2% discount to the stock's last closing price on
Thursday  urn:newsml:reuters.com:*:nASX4nHT7z
    ** Says the proceeds from the placement will be used to fund
the expansion of its security platform into the U.S. markets 
    ** Stock marks biggest intraday percentage gain since July
26 and is on track for a second consecutive session of declines 
    ** Stock is down 34.25 this year as of last close 
($1 = 1.4712 Australian dollars)
 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))