$444,731 was raised via the issue of 444,731,041 shortfall shares at an issue price of 0.1 cents per share to institutional, sophisticated and professional investors under the shortfall facility of the rights issue.
$335,269 was raised via the issue of 335,268,959 placement shares at an issue price of 0.1 cents per share to institutional, sophisticated and professional investors.
$SRO is pleased to announce the completion of the Rights Issue and Placement, raising $1.2m with an oversubscription of shortfall shares. The completion of the capital raise places the company in a strong position to grow its tech and services portfolio in #digitalhealth pic.twitter.com/tQDDo007Zy— ShareRoot (@sharerootco) July 22, 2019
Funds raised will be used for the following purposes:
• scale the existing revenue-generating digital client services capabilities and capacity;
• complete and launch new technology products and roll out marketing campaigns;
• continue development of MediaConsent Clinical; and
• re-name ShareRoot to reposition the company within the target market.
ShareRoot’s digital health insights platform Opyl utilises digital tools, custom designed algorithms artificial intelligence and machine learning to access data, create meaningful groups within the data and then search and analyse the data for significant patterns.