GSTechnologies Ltd (LSE:GST) told investors it has successfully completed a retail share offer, raising £500,000 before expenses, issuing 26.3 million new shares priced at 1.9p each.
The company said the offer was met with exceptional demand, and the exercise significantly exceeded its initial funding target of £250,000.
Shareholder applications were scaled back, it added.
A week ago, GSTechnologies announced it had separately raised £2 million through a share placing – selling 105 million shares at 1.9p each.
The money raised will go towards expanding GSTechnologies’ GS Money strategy, which includes growing its recently acquired CAKE business and Bake Cryptocurrency Platform.