Beonic (ASX:BEO) raised AU$375,000, equivalent to roughly 17 million shares at AU$0.022 apiece under its share purchase plan which closed last Sept. 12, according to a Wednesday filing with the Australian bourse.
The share purchase plan includes one new option for every two shares to be issued, exercisable at AU$0.044 and expiring on Sept. 18, 2027.
Proceeds will be used to support the Internet of Things technology platform's strategic initiatives and growth, the filing stated.
Beonic's shares fell 9% in recent trade.
Price (AUD): $0.02, Change: $-0.0020, Percent Change: -9.09%
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