Australia's Simble Solutions plunges on discounted share placement

Simble Solutions

18/03/2022 02:05

** Shares of Simble Solutions Ltd  SIS.AX  drop as much as
20% to A$0.020
    ** Stock to mark worst session since July 8, 2020 if losses
hold
    ** Software co says it has received firm commitments to
raise A$1.65 mln ($1.22 mln) via share placement  urn:newsml:reuters.com:*:nFWN2VK120
    ** Says funds raised will be used to expand co's growth in
Australia and the U.K. and for further development of products
    ** Issue price of A$0.020 per share represents a 20%
discount to stock's last closing price on March 15
    ** Stock hits lowest since Feb. 15  
    ** Stock up 25% this year, as of last close

($1 = 1.3548 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))