UNITH completes $2m Placement
I am pleased to confirm completion of the $2 million Placement, announced last week. These funds, raised at an Offer Price of $0.0145 with free-attaching Options, were settled despite selling pressure on the UNT share price in what may have been an unsuccessful attempt to impact settlement of the Placement.
New Shares under the Placement have now been issued, enabling UNITH to turn our attention to the Entitlement Offer which will be offered on a 1:7 basis at the same Offer Price with free-attaching Options as the institutional Placement.
The Entitlement Offer is scheduled to open in the next few weeks. Eligible shareholders will be notified of their Entitlement Shares and Options, as well as details around the oversubscription facility if shareholders wish to apply for more than their Entitlement.
Funds raised from the Placement and Entitlement Offer will be applied towards the general public launch of the Digital Human platform as a self-service product, increasing Unith’s commercial team and marketing spend.
As I detailed on the investor call last week, we have a tight budget around marketing but by raising the funds now, we will have flexibility to increase marketing spend when the time is right, conscious that the first experience needs to be a seamless one to maximise the potential of commercial licences.
Thank you for your ongoing support of UNITH and our Digital Human platform. We have a very busy few weeks ahead with some cool demos from the soft launch to share and will be in touch when the Entitlement Offer opens.
Regards,
Idan Schmorak
CEO
Unith Limited
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