Novatti Group (ASX:NOV) proposed an up to AU$9.4 million capital raise comprising a AU$4 million placement and 1-for-3 entitlement offer to raise up to AU$5.4 million, according to a Friday filing with the Australian bourse.
The fintech company has AU$7 million in commitments and is supported by major shareholder Brayter, the filing stated.
Proceeds will fund internal growth and a 70% gross margin target in fiscal 2027 by increasing operational and financial performance.
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