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Midpoint Holdings brings in $325,000 from first tranche of placing

The peer-to-peer foreign exchange and international payments firm said it had issued 6.5 million units.
Midpoint Holdings brings in $325,000 from first tranche of placing
Midpoint currently handles transactions in 22 currencies and can collect and transfer across 72 countries

Midpoint Holdings Ltd (CVE:MPT) has brought in $325,000 from the first tranche of its previously announced placing.

The peer-to-peer foreign exchange and international payments firm said it had issued 6.5 million units.

Each consists of one company share and one half of  a share purchase warrant, which entitles the holder to buy a further share for two years at 20 cents each.

The shares and warrants issued are all subject to a hold period of four months from the day of closing.

The proceeds will be used for general corporate and working capital, the group said.

Midpoint added that it will be going ahead with the next tranche of the offering and anticipates closing the remaining tranche in the coming week.

On March 10, the group said it planned to issue up to 10mln units at five cents each.

That came a month after the firm had extended, for a period of 30 days, the cashcall.

Midpoint currently handles transactions in 22 currencies and can collect and transfer across 72 countries.

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