Audeara (ASX:AUA) has announced a strategic placement to raise $1.35 million. The funds will be used to expand the capacity of the AUA Technology division and support new product launches. The placement will issue 33.75 million shares at $0.04 per share.
Audeara aims to enhance its capacity to meet increasing demand by raising $1.35 million through share issuance. The strategic placement, supported by high net worth investors and company directors, involves issuing 33.75 million shares with options. Funds will boost AUA Technology, facilitate new product launches, and strengthen working capital. The company's growth strategy focuses on increasing revenues, fulfilling significant orders, and scaling its tech stack, reinforcing its position in the hearing health market.
The additional capital will support the company's working capital and growth initiatives.