BUZZ-Australia's Spacetalk hits 3-week low on discounted equity raise

Reuters
2024-09-18

Sept 18 (Reuters) - ** Shares of Spacetalk fall as much as 14.3% to A$0.024, their lowest since Aug 27

** Stock hits its biggest pct loss since Aug 29

** The family safety technology business on Monday said it is undertaking a partially underwritten A$3.2 mln ($2.16 mln) equity raising; shares were on trading halt since then

** Issue price of A$0.024 per share is at a ~11% discount last close on Sept 13

** Says funds raised will be used to puchase inventory, among others

** SPA stock down by 3.1% YTD as at 0343 GMT

($1 = 1.4784 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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