ARC Funds (ASX:ARC) has successfully raised $692,500 through a new share placement. The placement price of $0.115 per share reflects a premium to recent trading averages. The funds will be used for working capital and strategic investments.
ARC Funds has raised $692,500 through a share placement, issuing 6,021,921 new shares. A significant portion of the funds will support strategic investments to expand ARC's investment product offerings. The placement was conducted at a premium to recent volume-weighted average prices, indicating strong investor confidence. New shares will be issued and quoted in December 2024. Legal and settlement advice was provided by KL Gates and Morrison Securities Pty Ltd, respectively. This strategic move aligns with ARC's goals to enhance its portfolio through acquisitions, bolstering its market position.
The placement was well-received by both new sophisticated investors and existing shareholders, signaling strong support for ARC's future growth strategies.