viewOpyl Ltd

Opyl raises $730,000 in well-supported and oversubscribed placement

Funds from the oversubscribed placement will be used as working capital to build the company team.

Opyl Ltd - Opyl completes $730,000 capital raising
Placement shares are being issued at a price of 10 cents per share

Opyl Ltd (ASX:OPL) has received commitments for a placement of up to 7.388 million fully paid ordinary shares at a price of 10 cents per share to raise around $730,000 before costs.

This oversubscribed placement was well supported by new and existing shareholders and the company is pleased to welcome the new investors on to the register.

The placement price is a 23.1% discount to the last closing price of Opyl’s shares on June 17, 2020, and a 20.4% discount to the 15-day VWAP.

Shares will be issued under the company’s current capacity pursuant to ASX Listing Rule 7.1 (4,432,800 shares) and 7.1A (2,955,200 shares).

Working capital

Funds raised will be used for working capital to build the company team as it expands with new business contracts across its digital and social media platforms.

In May, the company signed two new contracts that are expected to increase revenue over the following three quarters.

Opyl also has several active additional proposals in the market as a result of an intensive business development campaign collaborating with huumun.

Shares today have traded in the range of 10.5 to 12.5 cents.

Quick facts: Opyl Ltd

Price: 0.22 AUD

Market: ASX
Market Cap: $8.12 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Opyl Ltd named herein, including the promotion by the Company of Opyl Ltd in any Content on the Site, the Company receives from said issuer...


Full interview: Opyl is new name of digital health track company ShareRoot

Opyl Limited (ASX:OPL) chief executive officer Michelle Gallaher updates Proactive on the renaming of the global digital health track company formerly known as ShareRoot Ltd (ASX:SRO). This heralds the company’s entry into the rapidly expanding global digital health and artificial...

on 9/12/19

2 min read