DigitalX raises A$2.46m in share purchase plan

Maria Nikolova

The company has also received commitments for a Top-Up Placement to raise an additional A$1.29 million.

Blockchain-based solutions provider and ICO adviser DigitalX Ltd (ASX:DCC) today announces that its Share Purchase Plan (SPP) has closed significantly oversubscribed, raising a total of AUD 2.46 million

The Company has elected to accept the SPP oversubscriptions and has also received firm commitments for a Top-Up Placement to raise an additional AUD 1.29 million, taking the total to AUD 3.75 million.

Funds raised from the SPP and Top-Up Placement will be applied towards the evaluation of potential investment and acceleration opportunities and for general working capital.

The Shares pursuant to the SPP and Top-Up Placement will be issued at an issue price of A$0.0677289 per Share being a 20% discount to the Volume Weighted Average Price traded on the ASX in the preceding 5 days to today’s allotment day.

Earlier this week, DigitalX Ltd (ASX:DCC) announced the issue of a total of 1,895,453 shares at a deemed issue price of $0.061551 per share.

This happened less than a week after the company said it had finalised the legal proceedings, which related to an Originating Application and Statement of Claim filed by a group of parties relating to an investment made by those parties in an initial coin offering (ICO) to which the company was an advisor. Today’s share issue marks the first tranche pursuant to the settlement deed.

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