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Opyl completes $730,000 placement to build team and advance new business contracts

Opyl is a new generation company working at the intersection of artificial intelligence, social media and healthcare.

Opyl Ltd - Opyl completes placement to raise $730,000 advancing new business contracts
Opyl is developing digital tools that improve the healthcare experience for patients

Opyl Ltd (ASX:OPL) has completed the placement of 7.3 million shares at a price of 10 cents per share to raise $730,000 before costs.

Funds raised will provide the company with funding for working capital to build its team ahead of further expansion with new business contracts.

Opyl said it appreciated the support by new and existing investors and was pleased to welcome the new investors on to the register.

Placement details

The placement shares are issued under the company’s current capacity pursuant to ASX Listing Rule 7.1 and 7.1A.

These shares will be issued at 10 cents per share which represents:

  • 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 trading Volume Weighted Average Price (VWAP).

New contracts

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.

Quick facts: Opyl Ltd

Price: 0.099 AUD

ASX:OPL
Market: ASX
Market Cap: $3.65 m
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