ApplyDirect Ltd (ASX:AD1) has received commitments from investors to raise $1.02 million in a placement of 34 million shares priced at 3 cents each.
For every three shares, investors will be issued one option exercisable at 6 cents expiring three years from the date of issue.
The online recruitment company will use the proceeds of the placement will primarily be used for general working capital requirements.
Direct recruitment by employers
ApplyDirect facilitates direct recruitment by employers through its online database and search platform.
This online platform links employers and job candidates directly to live job opportunities on employer websites.
ApplyDirect aims to provide employers with fast, direct access to high-quality talent at a lower cost, with less hassle and in a way which cuts out the middleman.
Ending inefficiencies, consolidating job listings
The company aims to end the inefficiencies that exist in the market today, providing candidates and employers with a better experience.
The search engine assesses, consolidates and catalogues job listings and makes them easily available to the right candidates.
The online platform takes the stress out of looking for the right job, and brings strong talent straight to an employer’s door.