Property investment platform DomaCom has completed a capital raise to fund its expansion, gaining $1.5 million and now “poised” to commercialise the business.
Ord Minnett has been assigned lead broker over the raise, receiving binding commitments via a share placement to professional and sophisticated investors.
A total of 16,666,667 ordinary shares will be issued at a price of 9 cents a share.
The funds raised will also be used to build its platform, the company said, as well as its general working capital requirements.
“After seven years and around $35 million in capital, the company has completed all product development and is now poised to commercialise the business,” Arthur Naoumidis, chief executive of DomaCom, said.
“It is pleasing to have received the support of existing and new shareholders at this pivotal time in our history and I now look forward to focusing on growing our business.”
Settlement and issue of shares will occur on 24 June.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
Sarah has a dual bachelor's degree in science and journalism from the University of Queensland.
You can contact her on [email protected].
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