Australia's Pointerra falls on discounted placement

Pointerra

30/05/2024 03:16

** Shares of Pointerra  3DP.AX  fall as much as 7.9% to
A$0.035, set for worst day since May 1 if losses hold      
    ** 3D technology co says it received firm commitments to
raise A$2.05 mln ($1.36 mln) before costs
    ** Issue price of A$0.033 is at a 13% discount to stock's
last closing price
    ** Funds to be used for co's strategic initiatives in FY25,
including recruitment of enterprise sales professionals - co
    ** Stock at lowest level since May 14     
    ** 3DP down 13.6% YTD, as of last close

($1 = 1.5122 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))