RemSense Technologies Ltd (ASX:REM) has launched a 1:1 pro-rata entitlement offer for its shareholders in Australia and New Zealand to raise about A$2.1 million.
In this non-renounceable offer, shareholders are entitled to acquire one new share for each share they hold, at an issue price of A$0.02 per share.
Furthermore, for every two shares subscribed and issued, shareholders will receive one free unlisted new option, exercisable at A$0.04 per share.
The funds raised from this capital initiative are earmarked for ongoing working capital requirements.
About Remsense
Remsense has been actively enhancing its core product, virtualplant, and successfully integrating it with IBM Maximo.
Innovations include the development of virtualplant’s Asset Audit AI technology for automated asset tag identification and auditing in Enterprise Asset Management systems.
The technology roadmap for virtualplant is set to incorporate strategic features like an enhanced data security layer, a maintenance planner, and asset defect detection capabilities.