Nearmap raising $70m through placement
Australian technology and data company Nearmap is raising $70 million through an institutional placement.
Working on the deal is Canaccord Genuity and Macquarie Capital.
The company will use the funds to expand its group sales and marketing capability, predominantly in the United States, to boost its balance sheet and position itself for opportunities to increase its capability to improve data.
Nearmap will sell 43.75 million new securities at $1.60 each, which is an 11.1 per cent discount to the last closing share price of $1.80.
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